A Democrat involved in the presidential campaign tells THE WEEKLY STANDARD, "It IS Biden."

NBC reports Bayh and Kaine are out.

Update: "The United States Secret Service has dispatched a protective detail to assume the immediate protection of Sen. Joseph Biden, D-Del., a source tells ABC News, indicating in all likelihood that Biden has been officially notified that Sen. Barack Obama, D-Illinois, has selected him to be his running mate."

Update II: 3 A.M. text message?

omg, u r totally ready 2 b prez. srsly.