Laura Kuenssberg is reporting the David Cameron and Nick Clegg have met again this lunchtime and that the two leaders are now briefing their front bench teams on the agreement which has apparently been reached - or if not reached, which is very close to being reached.
Despite meetings having taken place between the LibDems and Labour, I now find it almost inconceivable that the LibDems can now either turn down the deal with the Tories or switch horses to Labour. The electorate can be a very unforgiving beast, and I suspect that if the result of this is a second general election, the LibDems would be absolutely decimated.
Sam Coates has tweeted that Tory MPs are being sounded out about AV or AV+. It will be interesting to see if that is true, and what the reaction is. Would AV be a price worth paying for an agreement, or would this be a step too far for the Parliamentary Party? Frankly, no one knows. Bear in mind that a huge proportion (more than 50% I think) of the new Parliamentary Party are new MPs and no one knows what their attitude will be.