**UPDATED! BREAKING NEWS! BalloonBoy FOUND ALIVE!
**UPDATE** 6:31PM BOY FOUND SAFE! ALIVE!**
Falcon Heeny found alive - and safe! Hiding in a box in the attic of his parent's house. He wasn't in the balloon. What a wild story! He's safe. Bottom line. That's Falcon in the picture above.
*UPDATED* BOY IN BALLON STORY 4:12PM
Balloon has landed safe. Boy was not inside. Conflicting reports from little boy's brother & father. Not sure of boy was inside balloon, holding balloon or accidentally released balloon. Still no sign of 6 year old. And as if story could not get any weirder...the little boy and his family appeared on ABC'S RealityTV show "Wife Swap" on the 100th episode. Father is Richard Heene. He is a storm chaser in Colorado. Wife is Mayumi. Sons are Bradford, Ryo and Falcon. Falcon is boy who is missing.
***UPDATED*** @ 3:41pm
BALLOON HAS LANDED SAFE IN COLORADO FIELD.
LITTLE BOY WAS NOT INSIDE...STORY DEVELOPING.
BREAKING NEWS!!! This is not a hoax...
Officials are scrambling to figure out how to rescue a 6-year-old boy who climbed into a homemade balloon before it floated away in Fort Collins, Colo.
The bizarre scene played out live on television and prompted fears that the flying saucer-shaped balloon would crash with the young child inside. FAA spokesman Mike Fergus says the agency has been notified and it was unclear whether traffic controllers had picked it up on radar.
Larimer County sheriff's spokeswoman Eloise Campanella says the device has the potential to rise to 10,000 feet. Sheriff's officials last saw the device floating south of Milliken, which is about 40 miles north of Denver. The craft is reportedly traveling at about 25 miles per hour.
The FAA is now clearing airspace near Denver International Airport.
"We were sitting eating, out looking where they normally shoot off hot air balloons. My husband said he saw something. It went over our rooftop. Then we saw the big round balloonish thing, it was spinning," said neighbor Lisa Eklund.
Additional details about the child and the balloon were not immediately available.