Credit: Egyptian Defense MinistryCredit: Egyptian Defense MinistryMorsi is no longer the president of Egypt and according to one of his aides has been moved to an undisclosed location.

Gen. Abdul Fatah Khalil al-Sisi, head of Egypt’s armed forces, has announced that the Egyptian constitution is suspended and that a technocratic government will be put in place until early elections are held.

For the latest news from Egypt (and everywhere else) be sure to keep an eye on Reason 24/7. 

UPDATE: 3:58pmET - According to the BBC's livestream Morsi has denounced the military's announcement and has called for the constitution to be restored. 

UPDATE: 4:07pm ET - The Associated Press has released footage of protesters reacting to the military's announcement. They seem pleased. 

UPDATE: 4:17pm ET - NBC News has profiles on the major players involved in Egypt's crisis. 

UPDATE: 4:57pm ET - Rep. Ed Royce (R-Calif.), chairman of the House Foreign Affairs Committee, has said in a statement that, "Morsi was an obstacle to the constitutional democracy most Egyptians wanted.  I am hopeful that his departure will reopen the path to a better future for Egypt, and I encourage the military and all political parties to cooperate in the peaceful establishment of democratic institutions and new elections that lead to an Egypt where minority rights are protected."

UPDATE: 5:04pm ET - A State Department spokeswoman has said, "We're not taking sides in this."

We will have more on the situation in Egypt later this week.