Update: NY Democratic Governor Elliot Spitzer will resign his office, sources now tell Fox News.

Update 2: Two/Three sources tell Fox News that Spitzer was indicted by the Southern district.

Update 3: Spitzer made a brief ~30-second statement, apologized to his family, but did not resign — at least publicly. Fox speculates he may resign through paperwork, but Greta Van Sustern says his lawyers may be trying to work the resignation into some kind of plea-deal.

Update 4: The NY Times reports that Spitzer was caught on federal wire taps.

ALBANY – Gov. Eliot Spitzer has been caught on a federal wiretap arranging to meet with a high-priced prostitute at a Washington hotel last month, according to a person briefed on the federal investigation.

An affidavit in the federal investigation into a prostitution ring said that a wiretap recording captured a man identified as Client 9 on a telephone call confirming plans to have a woman travel from New York to Washington, where he had reserved a hotel room. The person briefed on the case identified Mr. Spitzer as Client 9.

Update 5: Blame Bush, says one Kos Kid. Oy vey.

“My theory is that the Bush administration caught this through their wiretaps of Democratic politicians.”

Meanwhile, “Client #9″ requested activities the prostitute considered unsafe?

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Of everything coming out of the NY governor’s mansion today, good news isn’t amongst it. NY Democratic Governor Elliot Spitzer has told top administration officials that he has been involved in a prostitution ring.

Gov. Eliot Spitzer has informed his most senior administration officials that he had been involved in a prostitution ring, an administration official said this morning.

Mr. Spitzer, who was huddled with his top aides inside his Fifth Avenue apartment early this afternoon, had hours earlier abruptly canceled his scheduled public events for the day. He scheduled an announcement for 2:15 after inquiries from the Times.

Mr. Spitzer, a first term Democrat who pledged to bring ethics reform an end the often seamy ways of Albany, is married with three children.

The article notes that the feds arrested four people in connection with an expensive prostitution ring last week. While Spitzer’s administration won’t confirm publicly that that’s the ring he’s involved with, “a person with knowledge” tells the Times he believes that Spitzer was one of the men named as clients in the court documents for that ring.

Allah has video coming.