A earthquake swarm on Reykjanes Ridge is currently under way. At this time is it quite impossible to know how big and how long this earthquake swarm is going to be or if happens at all. But the biggest chance is that this earthquake swarm is going to be a small one, and is only going to last for a few more hours. But this earthquake swam started today with a small earthquake at 13:09 UTC close to Geirfuglasker. Over the past few hours the earthquakes have been getting more dense and growing slighty in size at the same time. A common feature for a earthquake swarm in Iceland.
The location of the earthquake swarm as it is now (19:49 UTC 17th of October 2010). Image is from Icelandic Met Office web page.
The best way to monitor this earthquake swarm is on IMO web page. They can also be seen on my helicorders. But they show clearly up on the Hekla helicorders.