A eruption ash cloud has been confirmed from Grímsfjall volcano. I do not know how high it currently is. But Icelandic news is reporting that the cloud is rising fast and high (estimated 3000 – 4000 meters and rising). Explosions have been seen from good distance.
Update 1: They estimate that there are 10 to 12 hours until the glacier flood appears from this eruption. The ash cloud can be tracked with lighting map here.
News about this.
Strókur rís hátt yfir Grímsvötnum (Rúv.is, picture)
Tíu til tólf klukkutímar í hlaup (Rúv.is, new picture)
Allir viðbragðsaðilar komnir af stað vegna gossins (Vísir.is, Picture)
Mjög öflug gosstöð (mbl.is, New picture)
Updated at 19:41 UTC.
Updated at 19:53 UTC.
Updated 20:21 UTC.