The full-time whistle goes and Liverpool have come from behind to knock out Merseyside rivals Everton 2-1 thanks to goals from Luis Suarez and Andy Carroll. Liverpool now have the chance to complete a domestic cup double when they return to Wembley to face either Tottenham or Chelsea in the FA Cup final, while for Everton the long wait for another piece of silverware goes on.
Everton are trying desperately to get back into this match but they are running on empty at the moment and it looks as though Liverpool will book their place in the final.
The Liverpool supporters are singing as the Reds keep hold of possession in the Everton half and look to tick down the clock.
Four minutes of stoppage time have been signalled so there is still an opportunity for Everton to grab a last-gasp leveller.
Maxi Rodriguez should make certain of the victory for Liverpool after being fed by Luis Suarez at the back post, but his shot hits the upright and Everton's hopes are still alive, just.
88 David Moyes immediately throws the dice with an attacking change, bringing on Victor Anichebe for Leighton Baines.
87 GOAL Andy Carroll finally gets his name on the score sheet as he heads home the free-kick from wide on the Liverpool left, getting ahead of Marouane Fellaini in the six-yard box to flick past Tim Howard.
Seamus Coleman gives away a free-kick following a foul on Steven Gerrard but referee Howard Webb decides not to show him a second yellow card.
84 Craig Bellamy enters the fray at the expense of Stewart Downing as Kenny Dalglish makes his second substitution.
Another chance falls to Andy Carroll following a high ball into the Everton box, but the Liverpool forward only manages to poke his effort wide.
This FA Cup tie is on a knife-edge as we enter the final few minutes of normal time, with both sides keen to grab a winner but reluctant to commit too many forward at this stage, with extra time around the corner.
Nikica Jelavic fires into the side-netting with a good-looking strike from the edge of the area after Marouane Fellaini had flicked on Tim Cahill's header.
79 Seamus Coleman is yellow carded for handling the ball as he lay on the ground in the build-up to that chance by Andy Carroll.
Andy Carroll has a chance to make amends for his earlier miss but drills a shot agonisingly wide from the edge of the area.
Leon Osman cuts inside from the left wing and lets fly with a curling effort from 25 yards that Brad Jones has to keep a close eye on as he gathers the ball at the second attempt.
Seamus Coleman digs out a cross after Marouane Fellaini plays it down the line and Glen Johnson holds off the aerial challenge of Nikica Jelavic to concede a corner.
75 Maxi Rodriguez comes on for Jordan Henderson as Kenny Dalglish makes his first change of the afternoon.
73 Jordan Henderson becomes the latest player to go into the book following a show of dissent.
John Heitinga stays down following a clash of heads with Andy Carroll and the physios come on to administer treatment, but the Everton defender is fine to continue.
The referee spots a handball from Tim Cahill as Everton press forward, denying them the chance of a shot on goal.
The substitutions could be key this afternoon, especially if this match stays level and enters extra time.
68 David Moyes makes the first change of the afternoon as he decides to withdraw the ineffective Magaye Gueye and bring on Leon Osman.
Nikica Jelavic is nearly presented with another gift from a sloppy pass but on this occasion Liverpool have the numbers back to retrieve possession.
The momentum is all with Liverpool now as Stewart Downing tries his luck from inside the area but slices his shot hopelessly off target.
62 GOAL Liverpool draw level and it is another defensive howler, this time from Sylvain Distin, who attempts a pass back to Tim Howard from wide on the left but leaves it far too short. Luis Suarez is on to the ball in a flash and finishes smartly with the outside of his boot.
Stewart Downing creates another chance with a cross from the right wing but Jordan Henderson cannot quite latch on to the ball in the centre and Everton show Liverpool how to deal with a dangerous situation by clearing their lines.
59 Nikica Jelavic and Martin Skrtel get involved in a tangle in midfield which does not cover either player in glory, and the referee decides both deserve a yellow card.
Everton have regrouped well after that initial Liverpool onslaught at the start of the second half, and Kenny Dalglish must be starting to think about his options from the bench.
Leon Osman has been impressive all afternoon but his latest shot is not the best as Brad Jones gets down low to his right to make a routine save.
Glen Johnson tries to play in Andy Carroll with a low cross but the big forward takes a tumble and cannot latch onto the ball.
Leighton Baines steps up and decides to float in a cross, which Brad Jones almost makes a complete mess of as he flaps at the ball.
Everton relieve the pressure as Marouane Fellaini earns a free-kick 25 yards from the Liverpool goal after being felled by Andy Carroll.
Luis Suarez shows nimble footwork to escape the clutches of his defender but also succeeds in tricking himself and slips on the Wembley turf.
Everton have not started yet in this second half as Liverpool launch wave after wave of attacks in an effort to equalise.
What a miss! If Andy Carroll's confidence was already fragile then it might be totally destroyed now, as he somehow heads wide from close range at the back post after being picked out by a delightful Stewart Downing cross.
Liverpool move on to the front quickly as Stewart Downing swings in a left-footed cross from the right that is safely plucked out of the air by Tim Howard.
Liverpool get the second half started as they look for a way back into this FA Cup semi-final against Merseyside rivals Everton. There have been no changes at the break.
The half-time whistle goes and Everton hold a narrow advantage thanks to Nikica Jelavic's goal. Liverpool have created a couple of chances but the Toffees look solid and it will require a monumental effort after the interval for the Reds to turn this around.
It has been an intriguing duel between Luis Suarez and John Heitinga all half and frustrations just about boil over here as the Uruguayan rugby tackles the Everton man after receiving a little push in the back, but the referee decides to take no action.
Nikica Jelavic wins a free-kick after being fouled by Martin Skrtel and takes the shot himself, curling it around the wall but wide of Brad Jones' right-hand post.
Stewart Downing does not have his crossing boots on either as he whips in a delivery that Andy Carroll has to stretch back for, and the ball loops harmlessly onto the roof of the net.
Glen Johnson gets forward well down the right before sending over a wayward cross that does not even come close to picking out a team-mate.
Everton's main problem this season has been scoring goals. Defensively they have been very strong and, now they have a lead, it may take something special to break down their organised resistance.
Steven Gerrard tries his luck from distance and generates great power with a swerving strike, but he cannot keep the ball down and it flies into the stands.
36 Luis Suarez goes down after being fouled by Sylvain Distin and Howard Webb allows play to unfold, before going back to issue the Everton defender with a yellow card.
Liverpool have been stung into action by that Everton opener and Stewart Downing attempt to go past Phil Neville on the outside. Unfortunately, he forgets to take the ball with him and Everton comfortably deal with the danger.
Leon Osman combines well with Nikica Jelavic before the ball is stolen off him by Jordan Henderson, who clears long into Everton territory.
Liverpool continue to dominate possession as Steven Gerrard tries to take the game by the scruff of its neck and drive the Reds forward with a direct run from deep.
Liverpool have responded well since going behind and threaten to draw back level as Stewart Downing's left-wing cross nearly finds Andy Carroll in the centre.
That goal has sent Everton's fans into dreamland and there is a great atmosphere around the ground with the Toffees faithful in full voice.
24 GOAL Everton take the lead and it comes from a terrible defensive mix-up between Daniel Agger and Jamie Carragher. The ball drops between them on the edge of the area and Agger for some reason decides not to clear it and leave the work to Carragher, who eventually smacks the ball straight at Tim Cahill. It breaks to Nikica Jelavic and he shows great composure to slot a fine finish past Brad Jones.
Andy Carroll has been dominant in the air so far but Liverpool are not getting enough service into him and Luis Suarez.
Phil Neville finds himself in an advanced position and produces a couple of step-overs before delivering a cross that goes behind Nikica Jelavic. Jelavic tries to improvise with an overhead kick but does not connect forcefully and Brad Jones makes a comfortable save.
It has been a quiet start at Wembley but the signs are that this game could just be opening up a bit, with Everton looking good in possession and Liverpool dangerous on the counter-attack.
From the corner, Sylvain Distin gives away a free-kick for pushing and Liverpool try to attempt quickly, forcing Leighton Baines to concede a corner at the other end.
Everton enjoy their best spell of possession so far, with Leon Osman pulling the strings, before Jay Spearing slides in with a good challenge to concede a corner.
The defensive wall does its job to block the free-kick but Liverpool keep the ball alive and a chance presents itself to Martin Skrtel 12 yards from goal, but his tame shot is safely held by Tim Howard.
Luis Suarez tries to turn Sylvain Distin but is brought down and Liverpool have a free-kick inches outside the Everton area on the right-hand side.
Now it is Everton's turn to probe menacingly down the flanks before wasting a threatening position with a poor final ball.
Liverpool break forward promisingly down the left but the move comes to nothing as Jordan Henderson slices a horrible shot from 20 yards way off target and it is blocked by an Everton defender.
Both sides are still looking a bit nervous at the moment, understandably so, and there is not much fluency about the passing as possession is surrendered too easily in midfield.
Leighton Baines steps up to take ownership of the free-kick but he fails to make Brad Jones work as his left-footed effort dips over the crossbar.
Nikica Jelavic wriggles away from Steven Gerrard before being blocked off by Daniel Agger 25 yards from goal in a central position, and referee Howard Webb has no hesitation in awarding a free-kick.
Liverpool are enjoying the most of the possession at this stage but Everton look up for the challenge as they try and close down their opponents as quickly as possible.
Glen Johnson races forward down the right and plays the ball through to Andy Carroll, who pulls it back for Jay Spearing to blaze an early shot over the bar from the edge of the area. That is a good chance that has gone begging but the signs are positive for Liverpool.
Makeshift left-back Daniel Agger concedes an early throw-in before Luis Suarez is caught offside at the other end. There is already a great buzz around the stadium as both sets of fans try to cheer their team on to success.
Everton get the game started, and let us hope for a thrilling encounter as these two great rivals vie for one spot in the FA Cup final.
A huge roar greets the players as Steven Gerrard and Phil Neville lead their teams out at Wembley. Everyone in the ground then unites to remember those who lost their lives at Hillsborough, ahead of the 23rd anniversary of the disaster tomorrow.
Jonny Potter in Belfast says: "Hi there. Big Liverpool fan, but I predict this will be a very close game. Would like to have seen Maxi as opposed to Henderson as in the Carling Cup final Henderson seemed overwhelmed by the occasion. Prediction 2-1 Liverpool with winner coming in added time."
Matt writes: "While I have and always will be behind the King, he's surprised many (including me) with baffling tactics, team line-ups and formations many times this season. How Kenny can continue to overlook Maxi's unbelievable goal scoring record and persist in playing Downing, a man with no goals or assists in the Premier League, is beyond me. With our third choice keeper in mind, I think it will go to extra time at least today."
Ricki from London says: "Looking at Liverpool's line-up, I've got to go for an Everton win. With Henderson (who has just not been good enough this year) and Carragher (who will get constantly beaten by Jelavic) I think Everton will nick this 2-1."
"This is Stewart MacLaren from a warm & windy Torrevieja in Spain saying that Everton will beat Liverpool 2-1 in the FA Cup semi-final at Wembley with good goals from Tim Cahill & Nikica Jelavic."
Keith from Edinburgh writes: "It seems that if you play well for Liverpool, as Bellamy did the other night, and has done on several occasions, then Dalglish drops you. What a bonus for Everton - Bellamy out and donkey Carroll in. KMD won't be there much longer in my opinion - his bosses are so uninterested they're already back in the USA!"
Both sets of players have just come out to do their final warm-ups, acknowledging the crowd at a Wembley stadium currently bathed in glorious sunlight.
Everton: Howard, Neville, Distin, Heitinga, Baines, Osman, Fellaini, Gibson, Gueye, Cahill, Jelavic. Subs: Hahnemann, Hibbert, Jagielka, Stracqualursi, McFadden, Coleman, Anichebe.
Liverpool: Jones, Johnson, Carragher, Skrtel, Agger, Gerrard, Spearing, Henderson, Downing, Carroll, Suarez. Subs: Gulacsi, Enrique, Maxi, Kuyt, Shelvey, Kelly, Bellamy.
This just in from our friends at Sky Bet: The Merseyside derby is on tour at Wembley today, with Liverpool 7/5 favourites and Everton 2/1. The draw is 9/4 and Sky Bet have a number of price boosts available for the crunch clash. Luis Suarez is 6/1 to open the scoring, Nikica Jelavic is 15/2 to notch first and Liverpool to win 2-0 is 11/1.
Marcel Kameni is the first person to get in touch, saying: "I'm a huge Liverpool fan. Liverpool have a goalkeeper who they (no disrespect) can't rely on. Whilst Everton have not beaten Liverpool this season, I strongly believe that this game will come down to which manager, Dalglish or Moyes, will have the better tactics on the day. If Liverpool play counter-attacking football they will win today because Everton are vulnerable when teams play on the break against them. On the other hand if Liverpool play like they did against Cardiff then I think they will lose. I'm going to go for it and predict a 2-1 victory for Liverpool, with Everton scoring from a set-piece and Liverpool scoring goals from counter-attacking play. I'm also going to bet for a red card in this fixture which would change to game completely."
While Liverpool's owners are on a long-term mission to bring the glory days back to Anfield, Everton are searching for their first major trophy since 1995. David Moyes recently celebrated 10 years in charge at Goodison Park and, while he may have brought stability to the club, what he is really targeting is silverware as he begins his second decade with the club.
The team news is in and Dalglish has opted to pair Luis Suarez with Andy Carroll up front, with Jose Enrique left out and third-choice goalkeeper Brad Jones between the posts in the absence of Pepe Reina and Alexander Doni. For Everton, Leighton Baines and Tim Cahill return to the starting XI and January recruit Nikica Jelavic leads the line.
Liverpool have been in the headlines again this week with the news that director of football Damien Comolli has left the club by mutual consent, apparently paying the price for the poor performances of the players that were signed last summer. Kenny Dalglish has been assured of his future by the owners John Henry and Tom Werner, who incidentally are not at Wembley today after flying back to the United States.
It is often said that form goes out the window when it comes to a derby game, or indeed a cup game, and Liverpool demonstrated that with an emphatic 3-0 victory over Everton in the Premier League at Anfield just a month ago when Steven Gerrard scored a fabulous hat-trick. But there have been few other high points for the Reds since winning the Carling Cup in February and the Toffees have shown far greater consistency in recent times to climb above them in the table. Whether that confidence will translate into a victory today remains to be seen, as Liverpool have saved some of their best performances for the cups this season.
It is a great line-up for the last four of this year's FA Cup, with Tottenham versus Chelsea to come on Sunday, but for now there has been a North West invasion at Wembley as the red and blue halves of Merseyside descend on the capital. There is just over an hour to kick-off and, with the atmosphere already building, please get in touch with your views and predictions at Lewis.Rutledge@bskyb.com or via Twitter @Sky SportsLewis.
FA Cup semi-final weekend is one of the most exciting dates on the domestic footballing calendar, while any Merseyside derby is a huge occasion for the supporters with local rivalry at fever pitch. When those two things come together it is a pretty special concoction and creates one of the most eagerly-anticipated games of the season so far. Welcome to our minute-by-minute commentary of Liverpool's clash with Everton at Wembley and what promises to be an epic afternoon.