Following the Crown Prosecution Service's decision to appeal the bail granted on Tuesday by the Westminster Magistrates' Court, another hearing will take place today at 11:30 GMT at the High Court.

Peter Alexander of NBC News noted on Twitter that "Assange lawyer says defense has collected $315K bail. He's free if appeal's denied." The court had requested on Tuesday that the full bail amount be presented in cash.

Journalists present at the court, including a team from The Guardian, report that Julian Assange and his legal team have already arrived at the court for the hearing, which is expected to take two hours. It is unclear at this point whether live updates via Twitter will be allowed from the courtroom, as was the case at Tuesday's hearing.

In the meantime, please don't miss Peter Kemp's continued legal analysis of the bail and extradition arguments: Extradition Part 2--Bail, and Bail Arguments and the Appeal.

Update 1: Justice Ouseley has ruled that no Twitter updates will be allowed from the courtroom today, reports The Guardian's Luke Harding.

Update 2: The Guardian's Luke Harding quoted Justice Ouseley as saying, "The history of the way it [the case] has been dealt with by the Swedish prosecutors would give Mr Assange some basis that he might be acquitted following a trial." According to Mr Harding, "the case is looking good" for Julian Assange.

Update 3: The prosecution's appeal has been denied, reports Channel 4. Julian Assange has been granted bail, on slightly modified conditions compared to those specified at Tuesday's hearing, namely additional sureties, reports Guy Rundle for Crikey.

The next extradition hearing will take place on January 11.

According to testimony at Tuesday's hearing, Julian Assange will stay at the estate of Captain Vaughan Smith, founder of the Frontline Club. You can read Mr Smith's exclusive piece in yesterday's Independent, explaining his support for Julian Assange and WikiLeaks, concluding: "If to fight for this country we will have to fight for its fundamental principles of justice then I declare my position in the ranks."

Update 4: Guy Rundle reports that hearing costs have been awarded against the Crown Prosecution Service.

Update 5: After the formalities were completed, Julian Assange was released today at 6pm London time. He gave a short speech on the steps of the High Court, thanking supporters, his lawyers, members of the press "who were not all taken in," and the British justice system. He called on people to support those facing conditions harder than he did in prison, and promised to continue his work and reveal the evidence behind the allegations.

A video of the statement is available via the New York Times.