According to the live stream:
Red Bull Stratos is a mission to the edge of space that will try to surpass human limits that have existed for more than 50 years. Supported by a team of experts, Felix Baumgartner will undertake a stratospheric balloon flight to more than 120,000 feet / 36,576 meters and make a record-breaking freefall jump in the attempt to become the first man to break the speed of sound in freefall (an estimated 690 miles / 1,110 kilometers per hour), while delivering valuable data for medical and scientific advancement
There’s been a delay due to high winds at around 700 ft. At around 10:00am there should be some action!