Arch-rivals Iran and Saudi Arabia agree to revive ties, reopen embassies

Regional foes Iran and Saudi Arabia agreed to resume diplomatic relations and reopen embassies in each other's countries, both governments announced via their state media agencies.

"As a result of the talks, Iran and Saudi Arabia agreed to resume diplomatic relations and re-open embassies ...within two months," Iran's news agency IRNA reported Friday.

Saudi Arabia's state Saudi Press Agency confirmed the announcement in its own statement.

This is a breaking news story and will be updated shortly.