Live Blog On Egypt's Historic Day

6:15pm Libya's revolutionary committee congratulated the Egyptian people on "the victory of their revolution which will allow Egypt again to embody (Arab) nationalism and the people to control its riches," a source told AFP.

6:02pm WSJ: Egypt's neighbors "rattled" by power shift

5:13pm The World Social Forum -- an annual gathering of left-wing and anti-capitalism activists-- erupted with cheers after Mubarak's resignation, with many calling for more revolts. "Who's next?" one Algerian participant cried out, calling for the ouster of his country's president, Adelaziz Bouteflika.

4:40pm Former Alaska Gov. Sarah Palin responds to developments in Egypt with a tweet for the media:

4:11pm  Iranian President Mahmoud Ahmadinejad praised the successful Egyptian revolt Friday as an example of a new Middle East breaking free from U.S. "interference." The AP reports:

Iran has sought to portray the popular uprisings in Tunisia and Egypt as a replay of its 1979 Islamic Revolution – whose anniversary was marked Friday by Mahmoud Ahmadinejad's speech and state-organized rallies that included chants of support for Egypt's anti-government protests.

"Despite all the (West's) complicated and satanic designs ... a new Middle East is emerging without the Zionist regime and U.S. interference, a place where the arrogant powers will have no place," Ahmadinejad told a crowd filling Tehran's Azadi, or Freedom, Square.

Iran's state TV broadcast simultaneous live footage of the gathering with shots from Cairo's downtown Tahrir Square, the center of Egypt's protests since late January.

In Iran's calculation, the revolt against Egyptian President Hosni Mubarak equals a blow to U.S. influence in the region and carries echoes of Iran's Islamic Revolution, which deposed the Western-allied monarchy and brought hard-line clerics to power.

The White House is insisting that any new government in Egypt must respect the country's peace agreement with Israel.

"This is the beginning of this process, not the end of it," press secretary Robert Gibbs said. "The partnership that we have had with the people and government of Egypt for 30 years has brought stability."

It's "important that the next government of Egypt recognize the accords that have been signed with the government of Israel," Gibbs concluded.

3:44pm Ahoy Blaze readers! Mike has been doing great work on the live blog, but is heading out. I (Meredith) will be taking over, continuing to bring you up-to-the-minute developments on the unfolding situation in Egypt.

White House Press Secretary Robert Gibbs is in the middle of his very last WH press briefing and echoing President Obama's remarks from earlier. The crowds in Egypt wanted fundamental reforms, Gibbs says, adding that the Obama administration is hoping for an orderly transition.

Gibbs is also urging the media to note how other countries in the region are responding to the situation in Egypt. Iran is "quite frankly scared of the will of its people," Gibbs asserted.

3:30pm  President Obama's entire address.

3:20pm Change in Egypt appears to have a positive effect on the NYSE.

3:16pm This is a good sign... Egyptian State Television carried President Obama's six minute speech live, meaning the people in Tahrir Square were watching what we were seeing.

3:15pm "Egyptians have inspired us. . ." "Today belongs to the people of Egypt." - President Obama

3:10pm "Egypt has played a pivotal role in human history for over 6000 years, but over the last few weeks, the wheel of history turned at a blinding pace as the people of Egypt demanded their universal rights." - President Obama

3:07pm "The United States will continue to be a friend and partner to Egypt." - President Obama

3:05pm "We have the privilege of witnessing history taking place. The people of Egypt have spoken and Egypt will never be the same." President Obama begins his address on the transition in Egypt.

3:00pm 10pm in Cairo, the celebration continues as speculation now grows as to who will lead the 90 million citizens of Egypt.

2:56pm US State Department cancels today's briefing, President Obama is expected to speak to the country close to 3pm Eastern.

2:55pm More raw video from the celebration in Cairo.

2:50pm UK Prime Minister speaks on the historic change in Egypt.

2:45pm  Richard Engel from NBC News reports that Mubarak was pressured to step down by the Military last night.

2:40pm  President Obama is meeting with advisors in the White House Situation Room, preparing to address the nation.  England, Germany and the European Union have expressed their support for the people of Egypt.

2:35pm  One week after two Fox News staffers were attacked and beaten in Cairo, Fox News Correspondent Leland Vittert celebrates with Egyptians in Tahrir Square.

2:30pm  President Obama will speak to America in 30 minutes.

2:25pm  AP Reports from Tahrir Square as the reality of Mubarak's resignation took hold.

2:22pm  Tahrir Square has changed from a protest scene to a massive celebration.

2:20pm  Mohamed el Baradei calls this "Egypt's finest day." The government of Qatar sees Mubarak's resignation as a positive event.

2:15pm  Reports across the news spectrum all seem to agree that Mubarak is in the resort city of Sharm el-Sheikh a resort city on the Dead Sea.

2:10pm Human Rights Watch now claims 300 plus were killed during the 18 day revolution in Cairo.

2:05pm  Called "the elegant revolution" and the "social media revolution" - Proud Egyptians are now posting their celebrations online.

2:00pm  Google executive Wael Ghonim tweets "Welcome back Egypt."

1:52pm  President Obama will now speak to the American people at 3pm Eastern.

1:50pm  More on Field Marshall Tantawi - from Reuters - https://www.reuters.com/article/2011/02/11/us-usa-egypt-military-idUSTRE71A5HX20110211

1:50pm  So who is in charge of Egypt's very large and well-supplied military?  Mohamed Hussein Tantawi Soliman (born 31 October 1935) is an Egyptian military officer. He holds the rank of Field Marshal and has served in the government of Egypt as Minister of Defense and Military Production since 1991; he is commander-in-chief of the Egyptian Armed Forces.

1:45pm  From the Twitter feed of freed Google executive WaelGhonim: "If You Want To Liberate A Government, Give Them The Internet"

1:40pm  The White House still has no formal time for the address by President Obama.

1:35pm  Speculation continues as to Mubarak's actual location. The situation surrounding VP Suleiman is also an unknown.

1:30pm The Higher Military Council has thanked President Mubarak for stepping aside. The Council has stated they are studying the issues and "will later issue more statements to outline the measures and decisions that will be taken and followed, but also stressed this is not a replacement for the Legislative Nation.  The lives of the martyrs who died during the 18 days of protests were also saluted by the Higher Council.

1:27pm  A statement from the Egyptian Higher Military Council is due any minute.

1:20pm  British PM David Cameron calls this "a precious moment of opportunity to have a government that can bring the country together."  He also offers the people of Egypt any assistance they can provide.  Cameron's statement is also supported by Germany's Angela Merkel and the European Union.

1:17pm  Fireworks explode in the sky over Cairo's Tahir Square in celebration as crowds chant "Egypt is free! Egypt is free!"

1:12pm As hundreds of thousands celebrate in the streets of Cairo and across Egypt, news is breaking that Mubarak's Swiss assets have been frozen.  Swiss government does not know what assets are there, but they have asked the banks to freeze assets and stop any transfers.

1:05pm President Obama's address to the nation on the events in Egypt has been delayed, it was slated for 1:30pm Eastern, no formal time has been set.

1:00pm Eastern - Less than two hours since Egyptian Vice President Suleiman announced President Mubarak had stepped down, turning over power to the military.

President Obama will speak at 1:30 eastern time.  In an interview with CNN's Wolf Blitzer, Nobel Peace prize winner Mohamed ElBarade told CNN that he hoped the American president would say that he stands with the people of Egypt.

12:00 Mubarak resigns, will leave immediately.