Live from Verizon's Motorola Droid X event!

Today's the big day: Motorola's getting back into the high-end Android game in a big way with the launch of the Droid X on Verizon, and we're here for the official announcement. Read on for the juicy details in real time!

1:55PM And we're done! We're racing out to get hands-on, check back soon!

1:55PM Stratton says the data overage for tethering will be 5 cents a megabyte. "Have all the megabytes you can stand."

1:54PM Sanjay says the Droid X is only for Verizon in the US -- "We may have a device that's similar in the rest of the world, but this is only for Verizon."

1:53PM "Will there be a delay getting Froyo on the device because of Blur?" Sanjay says it'll be updated to Froyo in late summer.

1:51PM Stratton's making phone of someone who introduced himself as the Droid Guy: "You're the Droid Guy? It's you? I've been wanting to meet you -- that's the Droid Guy."

1:50PM The Droid X will be available in other outlets on July 15th, not just Verizon outlets.

1:50PM Sanjay says battery life will be the same as the original Droid, even with the bigger display. There's also a bigger battery coming later -- it'll add a millimeter of thickness.

1:49PM Sanjay says the device will run 2.1 at launch with Motoblur, but it's been "hidden" from the consumer at startup and setup. Okay, then.

1:48PM "When you say people can get an extra 2GB for $20 a month, is that over the existing 5GB?" Stratton punts the answer -- he says the smartphone plan is unlimited with an extra 2GB if you buy the tethering.

1:47PM Question time! "When will you have a desktop syncing client?" Sanjay says there's a client coming with the Droid X.

1:47PM It's super lame that the Droid X won't come with Froyo or Flash at launch, let's be honest.

1:46PM Verizon is accelerating upgrade dates -- everyone with an upgrade date in 2010 can updgrade to the Droid X at launch.

1:45PM Smartphone data plan will be $29.99 for unlimited, with $20 for WiFi tethering that comes with an extra 2GB of data.

1:45PM Droid X will ship on July 15th for $199, but it won't come with Froyo or Flash -- that's coming "later this summer."

1:44PM "It's all about unfettered access to content -- we're very happy to be here."

1:44PM "We had to do a bit of innovation, we completely re-wrote Flash Player 10.1 to take advantage of all of this hardware."

1:43PM "We want to bring the power of content to this particular platform."

1:43PM He's running through the usual Flash-is-everywhere stats.

1:42PM "Where Adobe comes in is really about enabling all that content on the web to play on the devices... Flash continues to be the world's most pervasive software."

1:42PM "The reality is that people want unfettered access to the content that they want, wherever they are."

1:41PM Shantanu Narayen is up now -- joking that the next version of Android should be able to "beam me up."

1:41PM "If you're a third party developer who's built an app for Android, you can talk to it from the cloud." Talking up Froyo -- it's being open-sourced as of today.

1:40PM "One of the interesting effects that we're seeing is new types of services... we're developing new ways to harness services in the clouds."

1:39PM Selling 160,000 Android devices a day, with 65,000 apps in the Market.

1:39PM "Everybody came together to create this hit product. Watching that video with the rockin' soundtrack -- I don't know who's the lead guitarist, but there's definitely a band forming here, and we've got some great technology."

1:38PM It's Andy Rubin's turn! Talking about Android.

1:38PM "If you think about it, I think this is a package which is really quite attractive, and I hope our technology can take us to the next level."

1:38PM "We've met and exceeded every single environmentally friendly standard in the business."

1:37PM "People love their consumer capabilities, but they also want access to their enterprise email." Support for Exchange and Gmail enterprise, push email, corporate directory, and remote management / wipe.

1:36PM "We realize that people still use their phones as phones... this device has three microphones." One for video, one for voice, and one for noise cancellation.

1:36PM "From a mobility point of view, we have WiFi hotspot -- John will talk about pricing." Doesn't seem like it's going to be free."

1:35PM "We have a multitouch keyboard... we've also preloaded Swype, which is a big change in the way keyboards work."

1:34PM "If you ask consumers, they'll virtually always pick a larger display over a high-resolution display." Nice shot at Apple there -- the crowd chuckled.

1:34PM Now on to the processor -- it's a 1GHz OMAP, with 8GB of memory on board and a 16GB card packed in. Expandable to 40GB with a 32GB card, of course.

1:33PM Video's over, and Sanjay's talking about the eight megapixel HD camera. "It's really important that you can display this content over HDMI and DLNA... the camera is second to none."

1:32PM We're flying around some tasteful renders of the phone, accompanied by specs.

1:31PM Hooray, the Black Eyed Peas.

1:31PM "Media is going mobile as well... we have a network that can deliver media, and a device that can play it. This category is very important." Video time!

1:30PM "If you think about the internet, more people access the internet with mobile devices than with a PC... many people don't have any landlines at all. The power that used to be in a laptop is now in these devices."

1:29PM "If you go back and think about how the desktop evolved, it evolved into a much more horizontal model where there was focus... we're in the early days of the smartphone market... smartphones are going to be the converged device."

1:28PM "Every time I launch a smartphone I get more and more excited... this is the device that's with you at all times, the device that you rely on. This is what you go back home to pick up."

1:28PM Sanjay's up. "The evolution of the Droid to this new level is exciting for all of us. We're going to deliver an unparalleled smartphone experience."

1:27PM "We think the NFL RedZone app is particularly powerful in the mobile environment." It'll send alerts to your phone when either team in the game you're tracking is about to score, and the NFL will stream full Thursday night games to the app as well.

1:26PM According to the slide on stage, there's also V CAST video, NFL Mobile, Skype Mobile, and a Back-Up Assistant.

1:25PM "When you have a device like this, it screams video, and we've done some work on that front." Announcing a partnership with Blockbuster to rent and buy movies on the Droid X.

1:25PM John Stratton just pulled the Droid X out of his pocket. Yep, it's got a 4.3-inch screen.

1:24PM "Okay, I'm going to let you guys have your press conference. Thanks!" And with that, Eric is gone.

1:24PM "It's not one product -- although we're announcing an incredibly powerful one. It's not just the network, or the apps. It's the sum of it all. People are thinking mobile first."

1:23PM "You need an incredibly fast and stable network. You need an large screen and a fast processor. You need a software platform that scales -- a platform with real APIs. This is not a toy -- this is not just an app engine."

1:22PM Eric Schmidt is here as a surprise guest! "Why is everyone so interested in mobile? It's a new way of computing... you have a personal supercomputer that knows everything about you. Behind it you have massive parallel supercomputers doing processing."

1:21PM "What you're about to see is a reflection of the great partnership" between Google and Verizon.

1:20PM "Each of these men have been incredibly important to the development of the product we're about to announce today."

1:19PM And we're underway! John Stratton, Sanjay Jha, Andy Rubin, and Shantanu Narayen are all on stage.

1:11PM We're crowded in with a bunch of other sweaty journos (it's hot today in NY!), waiting to enter the presser.

12:01PM Chris here, live from the announcement's Chicago satellite event. Our New York colleagues are filing in now -- stay tuned!