Trade Deadline Countdown: Will the Cubs make a move?

The Major League Baseball trade deadline is coming up at 3:00pm CT. There are no shortage of rumors, but will any moves be made by Cubs GM Jim Hendry?

If will update this post throughout the day with more info as it comes out.

Updated at 11:30am CT- Scroll down for the latest.

Here is the latest from the mill:

• The Yankees are not going after Ted Lilly according to Buster Olney.
• Ken Rosethal writes that a deal with the Dodgers was fairly close last night. The Dodgers, Twins, Tigers, and Yankees all have interest in the Cubs southpaw.
• Rosenthal also reports that the Cubs have gotten "minor sniffs" on Xavier Nady and Mike Fontenot.
• Ryan Theriot is still a possibility for the Dodgers or Yankees. A Theriot for Kelly Johnson swap has been discussed.
• Carlos Zambrano said yesterday that he wants to stay a Cub, but he would accept a trade if the organization asked him to do so.
• Jon Heyman of SI tweets that the Mets offered the Cubs Oliver Perez and Luis Castillo for Zambrano, but the Cubbies said no.
• Bruce Levine reports that the Cubs could send Ryan Theriot and James Russell to Arizona for Kelly Johnson.
• The Dodgers are in the mix on Lilly, but Rosenthal tweets that the two sides are still apart on money and players.
• George Ofman of WGN Radio also says that a Lilly deal to LA is still alive but it's all about how much the Cubs will pay the Dodgers.

Updated at 11:30 CT- The latest on Lilly:

• Tim Brown of Yahoo tweets that the Dodgers are growing more optimistic that they can acquire Lilly.
• Ken Rosenthal says that the Cubs and Dodgers are still working the phones hard.
• Rosenthal adds that the trade is not done, but Theriot could be involved as well.

I will keep you posted, updating often with more rumors or whenever news breaks!