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**Written by Doug Powers

White smoke rising.

Elected on the fifth ballot:

Cardinals elected a new pope to lead the world’s 1.2 billion Catholics on Wednesday, overcoming deep divisions to select the 266th pope in a remarkably fast conclave.

Tens of thousands of people who braved cold rain to watch the smokestack atop the Sistine Chapel jumped in joy when white smoke poured out, many shouting “Habemus Papam!” or “We have a pope!” — as the bells of St. Peter’s Basilica and churches across Rome tolled, signaling a pontiff had been chosen.

The pope, whose identity isn’t yet known, is due to emerge from the loggia overlooking St. Peter’s Square to deliver his first words as the Bishop of Rome.

More details to come. We’re still waiting for the introduction.

Live video here.

Chuckles while we wait:

HAHAHAHAHAHAHAHAHAHAHAHAHA! RT @gometeoric: Karl Rove on Fox, says #WhiteSmoke premature while some votes are still being counted.

— Right Scoop (@trscoop) March 13, 2013

The Delay is in part due to controversy over a suitable twitter name.#HabemusPapam

— Teri Peters (@hipEchik) March 13, 2013

Conversation in Vatican: “Okay, who goes out there and explains we sent out the wrong color smoke?”

— Jonah Goldberg (@JonahNRO) March 13, 2013

Update:

Cardinal Jorge Mario Bergoglio of Argentina was named as the new pope of the Roman Catholic Church.

Photo gallery here.

Update II: TMZ has some shocking — shocking — news about the new pope’s position on a couple of issues:

**Written by Doug Powers

Twitter @ThePowersThatBe