Egyptian state television announced moments ago that President Hosni Mubarak will make an "important statement" shortly.
Al Jazeera reported that thousands of protesters in Tahrir Square in Cairo erupted in cheers upon the news that Mubarak will speak, hopeful that "this is it," and he will resign. Anything short of Mubarak leaving will be nowhere near enough to satisfy the people, per Al Jazeera.
NBC News said that the speech would take place at approximately 10:15 p.m. local time (3:15 p.m. Eastern Time). Past Mubarak addresses have also been delayed.