Update 1: Japan has requested an emergency U.N. Security Council session on the rocket launch.
Update 2: Russian military confirms launch; US State Department to hold emergency press conference at 11:40pm Eastern.
Update 3: Official Statement by Obama:
"North Korea's development and proliferation of ballistic missile technology pose a threat to the northeast Asian region and to international peace and security. The launch today of a Taepo-dong 2 missile was a clear violation of United Nations Security Council Resolution 1718, which expressly prohibits North Korea from conducting ballistic missile-related activities of any kind. With this provocative act, North Korea has ignored its international obligations, rejected unequivocal calls for restraint, and further isolated itself from the community of nations.
We will immediately consult with our allies in the region, including Japan and the Republic of Korea, and members of the U.N. Security Council to bring this matter before the Council. I urge North Korea to abide fully by the resolutions of the U.N. Security Council and to refrain from further provocative actions.
Preventing the proliferation of weapons of mass destruction and their means of delivery is a high priority for my administration. The United States is fully committed to maintaining security and stability in northeast Asia and we will continue working for the verifiable denuclearization of the Korean Peninsula through the Six-Party Talks. The Six-Party Talks provide the forum for achieving denuclearization, reducing tensions, and for resolving other issues of concern between North Korea, its four neighbors, and the United States. North Korea has a pathway to acceptance in the international community, but it will not find that acceptance unless it abandons its pursuit of weapons of mass destruction and abides by its international obligations and commitments."