It's being reported in several places now, including a press release from the Suns' website and a news feed at ESPN.com, from which the following is excerpted:
The Phoenix Suns have acquired Shaquille O'Neal in a stunning, blockbuster deal that sends four-time All-Star Shawn Marion and Marcus Banks to the Miami Heat.
The improbable pairing of the speedy Suns and the slow but once-mighty O'Neal became official when he cleared a physical exam Wednesday.
Despite the rumor having circulated for nearly 24 hours before the consummation of the deal, I'm stunned nonetheless. More on this to come in the NBA section in the next few days as more comes out about the circumstances surrounding the deal.
As of now, I'll maintain my own theorizing (based solely on personal conjecture and knowledge of Marion's history, as discussed in today's Daily Babble) that the Matrix's unhappiness in Phoenix finally grew to a point that he forced the hand of Steve Kerr. But time will tell.