After five years with the New Orleans Saints, the former 2nd overall pick has been traded to the Miami Dolphins. The word comes down from Pro Football Talk:

Reggie Bush is set to join the Miami Dolphins, agreeing to a new contract with the team that allows them to complete a trade with the New Orleans Saints.

The Dolphins and Bush’s agent, Joel Segal, worked overnight and into the morning to hammer out a two-year deal, ESPN’s Adam Schefter reports. Jay Glazer of FOX Sports reported that the Saints and Dolphins agreed to the terms of a trade late last night.

Bush will now head to Miami, take his physical, sign his contract and officially become a Dolphin.

The terms of Reggie's contract are as follows:

Bush will receive $2.5 million signing bonus and $2.5 million salary from Dolphins this yr; $4.5 million salary plus wkout bonus next.    

Reggie was a very divisive figure among Saints fans during his tenure in New Orleans. He may not always have been successful with the Saints, but no one can say he didn't try his hardest. What Reggie wanted most, was something New Orleans couldn't give him, via Micheal Lombardi:

Good luck to Reggie. Hopefully he gets a second chance to prove his worth. Make the jump to see some highlights of Reggie I gathered, in memory of the good times we've had together.

It isn't clear yet what the Saints will get in return for the trade, but I'll update the post when we find out.

UPDATE [7/28/11 12:05 PM CDT] It seems the Saints will be getting at least a rookie safety in the deal.

We still don’t know exactly what all the Saints will be getting from the Dolphins in exchange for Reggie Bush. But we do know that safety Jonathon Amaya is at least part of the package, according to ESPN’s John Clayton.

We'll have more as it develops.