The 'Gate is reporting that Josh has been granted bail by the 9th Circuit Court of Appeals, to wit:

In a brief order, two judges of the Ninth U.S. Circuit Court of Appeals said Wolf was entitled to bail because the government had not shown his appeal of a judge's contempt-of-court ruling was frivolous or intended solely to delay the proceedings...The court said another panel would rule on Wolf's appeal of the contempt order while he is free on bail. If he loses the appeal, he could be sent back to federal prison until the grand jury's term expires next July.
Josh could be free on bail as early as this afternoon. Of course, being in jail hasn't stopped him from posting to his blog via the postal system. While there, he also spoke to everyone from the Bay Guardian to Judith Miller. Videobloggers on the right have chimed in to support the Justice Department's case against Josh, but he can count for his support local well-wishers at numerous benefits, a public statement from Reporters without Borders and a $30,000 grant to defray legal costs from the Society of Professional Journalists. Look for updates from Josh at his blog, reports fellow video bloggers Ryan is Hungry, and the Free Josh Wolf blog for event updates.

Update: We spoke to Dan Siegel, a partner at the firm representing Josh, who told us that Josh doesn't need to post bond to be released, and it's now just a matter of paperwork at the correctional institution in Dublin. When asked when the 9th Circuit might take up the appeal, Siegel told us he didn't know. "Because they're letting him out they're not in such a rush."