Felix Baumgartner Red Bull Stratos Live Stream Video Coverage Begins Now

Update 2:15 p.m. EST: Mission Cancelled.  To be re-scheduled.

Felix Baumgartner's free fall from 120,000 feet up at the edge of space got delayed due to a weather hold. The winds have finally calmed and the preparation which took two hours is nearly finished. The Red Bull Stratos live stream video coverage is already live below. The official site redbullstratos.com provided updates while people worldwide waited to watch Baumgartner set a new world record.

At 1:40 p.m. EST, the dive is set to begin if all preparation is complete.

Baumgartner will beat the previous record set by Col. Joe Kittinger who jumped 102,800 feet back in 1960 as part of the U.S. Air Force mission. Kittinger has been giving Baumgartner advice and explained, "There's no way you can tell how fast you're going, because there's no visual cues."

He is excited for Baumgartner and is not bothered by him breaking his old record. "Oh no. I'm delight. He's advancing science, and he'll do a great job," he said to CNN.

Baumgartner is expected to drop more than 690 miles an hour and at such heights, the thin air is said to provide very little resistance.

Back in 2010, he told CNN, "I'm not nuts. You know, our records are meant to be broken, and I'm a very competitive person. I like the challenge."

"Of course I'm afraid of dying, because I worked so hard to reach this level. You know, I'm living a good life. I think the most important thing I'm doing is to come back alive," he added.

Baumgartner is an Austrian helicopter pilot and has been in preparing for this jump for five years.

"You have to remember all the procedures. You know you're in a really hostile environment. And you cannot think about anything else. You have to be focused. Otherwise, you're gonna die.," he said in a testing for the jump.

After years of training, his coach Andy Walshe says that Baumgartner is mentally and physically prepared.

Watch the live stream video below: