Apple CEO Steve Jobs — who has been on medical leave since January — takes the stage this morning to make some major announcements, and while Apple officials sent out a news release last week tipping their hand about what he’s revealing, the company’s been tight-lipped on the details.

iCloud: Probably the most exciting reveal in today’s speech, Apple’s new iCloud service includes cloud iTunes capability.

iOS 5: iOS 5 will have a revamped notification system and new widgets.

3:00 p.m.: And that’s a wrap!

2:55 p.m.: iTunes Match will upgrade the songs to 256k AAC DRM free. Costs just $24.99 per year.

Comparing Apple, Amazon, Google, Jobs said that iTunes in the Cloud is faster, works on your Mac and PC, and is cheaper than Amazon, which is $50 for 5,000 songs. “Even for 20,000 songs, we’re one flat price.”

2:53 p.m.: A small thing. Songs you’ve ripped yourself. With iTunes Match, will scan and match up with songs without uploading.

2:52 p.m.: One more thing?

2:52 p.m.: iTunes in the Cloud developer beta drops today.

2:51 p.m.: Get with upgrade or when you buy a new phone. 5GB of storage for everyone by default, apps and books don’t count, nor does Photo Stream.

2:49 p.m.: Up to ten devices, downloaded to all. All nine iCloud apps are free.

2:46 p.m.: Any song you buy on one device will be pushed to all devices.

2:45 p.m.: For songs already bought, you have a purchased button, shows history of what you bought on any device, sort by artist, albums, anything you bought, download to any of your devices at no additional charge.

2:44 p.m.: iTunes in the Cloud! Finally.

2:43 p.m.: Eddy Cue demonstrating that you can take pictures with your iPhone and they’ll appear on your iPad.

2:40 p.m.: Store the last 1,000 photos on your device, store on server for 30 days, store all on Mac.

2:39 p.m.:Photo Stream built into Apple TV.

2:38 p.m.: Photo Stream will sync your photos across devices, can also import photos, upload iPhotos to the cloud, built into apps.

2:33 p.m.: Documents update on all devices, Macs and PCs too.

2:31 p.m.: Documents in the cloud, changes to Pages, Numbers and Keynote, pushes to all devices with Pages.

2:30 p.m.: Everything backs up to the cloud daily over WiFi — music, books, camera roll, app data.

2:29 p.m.: Plus, three other services, App Store to push all purchases to all devices.

2:27p.m.: iCloud is FREE.

2:26 p.m.: Mail better, no ads (a dig at Google, no doubt.)

2:25 p.m.: Says they learned a lot from MobileMe, thrown away and written from ground up. So things like contacts, calendar events get pushed up to the cloud automatically, can share calendars with others.

2:24 p.m.: Jobs: “Why should I believe them? They’re the ones who brought me MobileMe!”

2:23 p.m.: More than just a “hard drive in the sky,” automatically uploads, stores, pushes and completely integrated with apps, “there’s nothing new to learn”

2:22 p.m.: Get something on your iPhone, sends to cloud immediate, pushed to all devices. “Don’t even have to think about it, don’t have to be near my Mac.”

2:21 p.m.: Jobs talking about how the PC was the digital hub of your life, but isn’t anymore.

2:21 p.m.: Steve Jobs back on stage.

2:20 p.m.: iOS 5 will back itself up every day.

2:19 p.m.: Developer seed for iOS 5 out today, shipping to customers this fall.

2:17 p.m.: Can mirror your iPad 2 to your TV and WiFi sync to iTunes.

2:15 p.m.: Offers read receipts, delivery receipts.

2:14 p.m.: Send text, photos, video, contacts, pushed to all devices, 3G and WiFi, encrypted. Look out RIM.

2:12 p.m: iMessage, like BBM on iOS devices, messages can go between iPhones, iPod Touches, iPads.

2:10 p.m.: 50 mil. Game Center members, adding photos, compare with achievement points, see friends of friends, recommended friends, game recommendations,

2:10 p.m.: “If you want to cut the cord, you can.”

2:08 p.m.: Including software updates.

2:07 p.m.: “P.C. Free,” over the air updates, wireless syncing. Now your iPad and iPhone can be your ONLY device, no computer needed for updates.

2:06 p.m.: Thumb keyboards! Just drag the keyboard on each side, and separate.

2:03 p.m.: Now Mail, can search everything not just to/from/subject, can drag addresses, rich text formatting, flag and unflag, add indentations. Also added swipe to inbox and a dictionary to all of iOS.

2:01 p.m.: Camera getting an update, lock screen shortcut to Camera, can use volume up to take photos, pinch zoom, hold your finger over a section to auto-focus, quick photo-editing

1:58 p.m.: “Reminders,” app lets you store your lists and dates, can be notified. Can also set to be location aware, so that something will send you an alert when you enter or leave a given location.

1:56 p.m.: Tabbed browsing for Safari on iOS.

1:55 p.m.: Reading List, essentially a Read It Later/Instapaper type thing, unifies across all iOS devices.

1:54 p.m.: Safari reader, reformats pages/stories/articles to make them easier to read.

1:53 p.m.: Can Tweet from Safari, YouTube, Maps, contacts integration.

1:51 p.m.: Twitter integration goes deeper, single sign-in for Twitter, other applications, only have to log in once for networks. Twitter integrated with Camera/Photos, just tap to tweet a photo, option to add location.

1:48 p.m.: Newsstand, another new feature, the result of deals with publishers, lets you look at physical papers with background downloads. Downloaded subscriptions appear in Newsstand automatically.

1:46 p.m.: Improved lock screen, slide your finger across a notification on the lock screen and it’ll take you to it.

1:45 p.m.: Addressing notifications: Notification Center, single place to combine all notifications on iDevice by swiping down from the top (Android, much?). Voice, text, Facebook, Twitter, stocks and weather.

1:43 p.m.: iOS 5 intro’d: 200 new features

1:42 p.m.: More than 14 billion apps sold on the App Store.

1:40 p.m.: Apple says it’s sold 200 million iOS devices, 25 million iPads.

1:39 p.m.: It’s a 4GB download.

1:37 p.m.: Can use on all of your computers, priced at only $29.

1:36 p.m.: Facetime is built in; easy Windows Migration, Lion only available on Mac App Store.

1:32 p.m.: New mail has conversation view, suggests searches.

1:31 p.m.: New version of Mail in Lion, two- or three-column view, includes search suggestions.

1:29 p.m.: With Versions, you can copy-paste from your older version to your newer version. Now introducing AirDrop, a peer-to-peer sharing utility. No setup, confirmation on both end, encrypted data.

1:28 p.m.: Launchpad will let you make folders, move apps, like iOS control on your Mac.

1:26 p.m.: Add applications from the Mac App Store to Launchpad.

1:23 p.m.: “Versions” is like Time Machine for a document.

1:21 p.m.: Resume lets you go back to an app you’ve closed where and when you close it. Also introducing auto-save.

1:20 p.m.: Pinch your screen and all your applications appear, through Launchpad.

1:19 p.m.: Mac App Store a hit for Apple, the number 1 source for buying PC software.

1:14 p.m.: Spaces can be created from the trackpad through mission control, you can call up Mission Control with a three-finger swipedown.

1:13 p.m.: Definitely putting the mobile experience on the computer. With the new multitouch gestures, you can pinch to zoom or double-tap to zoom, as you do on mobile Safari.

1:11 p.m.: Mission Control, combines Expose and Spaces. You can access with a single gesture.

1:08 p.m.: Lion has over 250 new features, now showing off touch gestures — tap to zoom, full screen apps.

1:06 p.m.: Phil Schiller, VP of Marketing, says that there are now over 54 million Mac users, outgrowing the industry.

1:04 p.m.: Announcing Lion, iOS5, and “some kind of interesting new cloud stuff”

1:02 p.m.: Steve Jobs is on the stage.

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