It's not really a flying car. But it's still pretty cool.
The Transition "roadable aircraft" has made a successful maiden flight, according to Terrafugia, the company that is developing it.
Media were not present at the airstrip in Plattsburgh, NY when the test took place, but the company has released photos and videos chronicling the event.
• Click here for photos.
With front-wheel drive and fold up wings, the aircraft is capable of being driven on public roads at highway speeds and will fit in a standard garage. What it can't do, legally, is take off and land from anywhere other than an approved general aviation airport.
The vehicle is expected to go on sale as early as 2011 for around $194,000. A small price to pay to say you have a "flying car." Air quotes are required whenever you do.