*Please note all updates are AEST.
9.50am: And that is where our live coverage of the London Olympics opening ceremony ends.The Olympic flame ended its 20,500km journey in surprising fashion early Saturday morning in London when seven youngsters lit the Olympic cauldron.
Sir Paul McCartney takes to the stage to sing Hey Jude.
9.37am: The Olympic cauldron has been lit by the group of young people. The spectacle culminated in a number of petals rising to form one torch. It stands in the middle of the Olympic stadium.
Sir Steven has passed on the flame to a group of young people who are nominated by Olympians. They are running the flame around the stadium.
In case you missed it
: 'Queen Elizabeth II' parachutes into the stadium during the opening ceremony.
9.24am: The Olympic flame has arrive by a boat driven by David Beckham. The flame was then passed onto Sir Steven Redgrave. The flame is now making its way towards the Olympic stadium.
A touching moment as tribute is paid to boxing's greatest, Muhammad Ali. A noticeably frail Ali was part of the flag raising ceremony.
The Olympic flag enters the stadium. Not long now until the Olympic torch is lit.
Queen Elizabeth II has declared the Games of the XXX Olympiad open.
Rogge: "The Olympics Games are coming home tonight"
President of the International Olympic Committee Jacques Rogge addresses the crowd and athletes. "Thank you London," he said. "It has taken a lot of hard work"
The official business is about to begin as London Organising Committee of the Olympic and Paralympic Games (LOCOG) Chairman Lord Sebastian Coe takes to the stage.
In case you missed it:
AUSSIE, AUSSIE, AUSSIE!!!!!
The Arctic Monkeys have taken to the stage to perform before they belt out a cover of The Beatles' classic Come Together.
The Queen, Prince Philip along with Prince William and Princess Catherine are cheering on the home team. Prime Minister David Cameron is also there, as TEAM GB continues the walk around the stadium.
am: TEAM GREAT BRITAIN. There are 541 athletes representing Britain in the Olympics. Only half are marching. Chris Hoy is carrying the flag.
8.52am: Not long now until the home team Great Britain makes its entrance. Five countries to go.
In case you missed it:
Rowan Atkinson (aka Mr Bean) playing some tunes in the opening ceremony.
The parade of athletes seems to be moving a lot faster than usual. The soundtrack seems to have them pumped up and keeping with the beat.
Team Great Britain is waiting out the back for a home ground entrance. Could they be wearing a Ziggy Stardust inspired uniform? Lots of white with some gold hoodies.
Take a look at the latest photos from the opening ceremony below. Australia was proudly led out by a noticeably stoked Lauren Jackson.
Team America (or United States of America - so the team doesn't have to walk out early and stand there waiting for everyone else for over an hour) is just about to enter the stadium.
8.17am: The opening ceremony for the London 2012 Olympics has been labelled as a very British spectacle.
The athletes' parade is just over half way through - here comes Malta.
Jamaica enters the stadium led in by the world's fastest man Usain Bolt.
Here's a bit of Olympics trivia: Bhutan is the last country in the world to receive television back in 1999.
Brazil enters the stadium - four years before Rio hosts the Olympics. There is a toss up between Belgium and Brazil for who is wearing the best uniform so far.
There are a few notable absentees in the Australian team.Many of the athletes are watching the opening ceremony from the comfort of the athletes' village. Swimmer Stephanie Rice tweeted she is missing the walk.
7.26am: Here are the Australians - led out by basketballer Lauren Jackson.
And here come the athletes for the parade - led by Greece.
The crowd pauses as a haunting rendition of Abide With Me is performed by Emily Sande with a slight heartbeat sound in the background.
7.07am: Check out our photo highlights of the opening ceremony below.
6.57am: Some rock classics blasted through the stadium with The Beatles, The Rolling Stones, Queen, Led Zeppelin, David Bowie and The Sex Pistols played.
As pink tights and fluoro tubes make their way around the stadium - rocking it out to '80s music.
6.52am: The ceremony now moves towards the digital age with a major focus on mobile phones and gaming.
MR BEAN!!!!!!!! A musical tribute to Chariots of Fire. Comedian Rowan Atkinson taking the mickey out of one note playing at the intro.
A tribute to Britain's literary history has seen Mary Poppins light up the stage. Here's some trivia: The opening ceremony features over 15,000 volunteers.
The second phase of the extravaganza has begun with a celebration of the UK's National Health Service.
6.33am: The audience roars loudly with a rendition of God Save the Queen, following Queen Elizabeth II's entrance to the stadium.
6:27am: The Queen has appeared as herself in a pre-recorded segment with actor Daniel Craig reprising his role as James Bond before entering the stadium with International Olympic Committee President Jacques Rogge
6:15am: The industrial revolution has been represented by hundreds of people led by a depiction of Izambard Brunel, the father of British industry.
6.10am: Following a frenetic video journey down the River Thames and a ringing of a symbolic bell by Tour de France winner Bradley Wiggins, the Opening Ceremony of the London Olympics kicked off.
The Olympics have begun with the emcee at the opening ceremony cracking jokes about the weather: "We need the rain! It wouldn't be the London Olympics without rain!"
6.02am: London is all set to open the 2012 Olympic Games with a glittering opening ceremony which will be watched by over one billion people worldwide. Directed by Oscar-winning film-maker Danny Boyle