Update 4:04PM: The pope has been named. 76-year-old Jorge Bergoglio, a cardinal from Argentina. He has chosen the name Pope Francis I. NPR has the full story here.
White smoke rose in Rome on Wednesday, signaling the election of a new pope.
Reuter's captured the event live and is streaming live video right now:
The new pontiff's name has not yet been announced.
The conclave to elect the new pope began on Tuesday, less than two weeks after Benedict XVI's resignation.
Check back later for more information. You can also find more papal news at ColumbiaFaithAndValues.com.