Osama Bin Laden Is Dead!

It's official! Osama Bin Laden's death has been confirmed.
President Barack Obama is said to address the nation shortly.
UPDATE: Reports are stating the United States has possession of Osama's body.
Hundreds are gathering outside the gates of the White House chanting, "USA, USA!"
President Obama began his speech by stating:

"Tonight I can report to the American people and to the world that the United States has conducted an operation that has killed Osama bin Laden, the leader of al Qaeda."

Obama confirmed Bin Laden was killed at a compound in Northern Pakistan after a firefight with US forces.
UPDATE 2: If you missed the President's speech to the nation, watch the clip after the jump!