The deal is confirmed according to espn.com. Cliff Lee is out, Roy Halladay is in.
This obviously splits up the lefties and righties in the Phillies rotation by having an even balance between the two. I think it can be a move with positive effects because of that reason.
One Lasting Note: Thanks to Cliff Lee for a tremendous three months in Philly, especially the playoffs and World Series.
UPDATE: Not quite yet. I told Michael Stubel to not jump the gun like Asante Samuel and now I will tell myself that. Nothing is official, but it looks imminent.