Seven Harry Potter Books = Eight Harry Potter Movies

According to this article in the Los Angeles Times, Harry Potter and the Deathly Hallows will be split into two movies filmed at the same time and directed by David Yates from a script adapted by Steve Kloves. Hallows part I is scheduled for release in theatres in November 2010, while part II should be out in May 2011.

Update: you can now read the official press release from Warner Bros. here