Update 2:16 p.m. central: Bill Cosby is now out of police custody after posting $1million bail today.
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Breaking news ILOSM family: The courts have just decided to charge Bill Cosby for sexual assault and an arrest warrant has just been issued for his immediate arrest. Here is what has been reported by People Magazine:

An arrest warrant has been issued for entertainer Bill Cosby for allegedly drugging and sexually assaulting former Temple employee Andrea Constand at his Elkins Park, Pennsylvania mansion in January 2004, sources tell PEOPLE.

Constand was not available for comment but one of her attorneys expressed gratitude toward the prosecutor.

“Obviously we appreciate the expression of confidence in her,” says Dolores Troiani of her client, Constand, 42, who is now a massage therapist in Ontario, Canada. “We’ll have to see what happens. We hope justice will be done. We will cooperate fully.”

Cosby has previously said what happened between him and Constand was consensual, but in new court filings last summer Constand said she was in a relationship with a woman at the time. She also called Cosby a “narcissist” who missed cues that she’s gay.

The statute of limitations to charge Cosby runs out in January.

Troiani exclusively told PEOPLE in September that if prosecutors decided to arrest Cosby for the alleged assault, Constand would fully cooperate.

“I think she’s a very strong lady,” Troiani said. “She’ll do whatever she needs to do, whatever they ask of her.”

So far, more than 50 women have accused the entertainer of drugging and/or sexually assaulting them. (Cosby has vehemently denied all of the allegations). The warrant comes just two weeks after Cosby filed defamation lawsuits against several of those accusers, who have filed defamation lawsuits of their own against him.

Of those lawsuits Troiani would only say, “I think this arrest warrant speaks for itself. I don’t think I have to talk any louder than they have.”

Last summer, outgoing Montgomery County District Attorney Risa Vetri Ferman quietly reopened Constand’s case, sending detectives to Canada to interview Constand once again while Kevin Steele, her first assistant, oversaw the investigation. (Steele is now the Montgomery County District Attorney-Elect.)

The existence of the new investigation only became public after the Constand case became an issue in this year’s race for Montgomery County district attorney.

Democrat Steele, who ultimately won, ran a TV ad blasting his opponent, Republican Bruce L. Castor, Jr. for not prosecuting Cosby when he was the county’s district attorney in 2005. At the time, Castor cited “insufficient credible and admissible evidence.”

Castor responded with an ad of his own criticizing Steele, the county’s first assistant district attorney, for not taking action himself.

In late October Constand filed a defamation lawsuit against Castor for allegedly making her “collateral damage for his political ambitions” in comments he made to various media in the preceding weeks, according to the complaint.

We’ll keep you posted with new info regarding Cosby’s arrest as we get it.