Proposition 8 was ruled unconstitutional by Judge Vaughn Walker, according to New York Magazine who had early word on today's ruling.

Big news: According to a source who has seen the 136-page decision, U.S. District Court Judge Walker has ruled Proposition 8, the California voter-approved ban on gay marriage, unconstitutional under both the due-process and equal-protection clauses.

Prop 8 is dead. For now. Walker's ruling will most likely be appealed to the Ninth U.S. Circuit Court of Appeals in San Francisco, which could then lead to the U.S. Supreme Court in 2011 or 2012.

SFist will have more information on today's historic ruling throughout the day.

Update: In part of a Walker's 136 page decision, here's a snippet of the ruling:

REMEDIES

Plaintiffs have demonstrated by overwhelming evidence that Proposition 8 violates their due process and equal protection rights and that they will continue to suffer these constitutional violations until state officials cease enforcement of Proposition 8. California is able to issue marriage licenses to same-sex couples, as it has already issued 18,000 marriage licenses to same-sex couples and has not suffered any demonstrated harm as a result,see FF 64-66; moreover, California officials have chosen not to defend Proposition 8 in these proceedings.