This means that Republican senators will not have to expel Stevens, which would leave an open senate seat that could have been filled by—you guessed it—Gov. Sarah Palin.
Here's some of the CNN report on the news:
Alaska Sen. Ted Stevens, the Republican lawmaker convicted on felony corruption charges in October, appears to have lost his bid for re-election to Democrat Mark Begich, according to a release from Begich's campaign and unofficial results from state officials.
With 100 percent of Alaska's precincts reporting, Begich, the mayor of Anchorage, had roughly 47.7 percent of the vote, compared with about 46.6 percent for Stevens, according to unofficial results posted on the Alaska Secretary of State's Web site.