Updated at 5:30 p.m.: Boeing has been awarded the contract.

Could there FINALLY be closure on the long-delayed KC-X tanker replacement contract? The Air Force is expected to announce its choice for a $35 billion contract to build 179 flying tankers today at 5:10 p.m.

Two companies vying for the contract are Chicago-based Boeing Co. and European Aeronautic Defence and Space Company.

The Air Force has been attempting to contract for a new refueling tanker to replace the KC-135 since 2002, but Congressional interference and allegations of misconduct has delayed the contract.

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