From the BBC:
Iran holds two US Navy boats and crew, Pentagon says, adding it has assurances Tehran will return them "promptly"
As this was released at about 4:15pm Eastern time (9:25pm UTC) there are no futher details at this time.
We will update this summary when more information is available.
UPDATE - 9:35pm UTC:
The incident happened near Farsi Island after one of the ships encountered mechanical problems.
Fox News reported that the sailors had drifted into Iranian waters, but that has not been independently confirmed.
Iran has assured the US that the sailors and two small vessels would be returned promptly, the Associated Press reported.
What is this, ABC?
BREAKING: THIS IS SOYLENTNEWS