FIGHT IS CURRENTLY IN PROGRESS.....

SI.com's Bryan Armen Graham brings you blow-by-blow, round-by-round thoughts on the WBA heavyweight title bout between Evander Holyfield and Nikolai Valuev.

ROUND 9 -- The best action of the fight comes early in the round as the fighters trade blows near Valuev's corner. But just when it seemed like we'd see some pyrotechnics, Valuev went back into his shell. Holyfield forces the action, moving inside and doing damage on the interior. Yet another round where Holyfield's limited work rate manages to win the round. HOLYFIELD 10-9

ROUND 8 -- Valuev starts walking in, but he's still not punching. He's firing a more and more jabs but not landing anything substantial. At one point, Valuev connects with a hard right jab but Holyfield responds immediately with a hard left to the temple. For the first time tonight, Valuev is really pressing the action and even landing a few punches -- but nothing to waver Holyfield from his impressive circular course around the ring. VALUEV 10-9

ROUND 7 -- So our readers don't get the wrong idea: Holyfield hasn't looked spectacular or even great. But he's fighting the smart fight and taking advantage of his opponent's absurd inactivity. He's doing just enough to win each round, and his movement is better than anybody could have expected. There were times during the seventh round we saw Valuev awaken from his slumber and start to mount an offensive -- but nothing was sustained. Another for Holyfield, who wins the round on a handful of hard hooks to the head. HOLYFIELD 10-9

ROUND 6 -- After another cautious opening, Holyfield gets inside and unleashes three hard punches to Valuev's head. The champion looks like a guy who just doesn't want to fight. Midway through the bout, I don't think Valuev has thrown a single punch with conviction. As commentator Al Bernstein notes from ringside, this is perhaps the most dreadful performance we've seen from a heavyweight champion in decades. Another round for Holyfield, the busier and more aggressive fighter. HOLYFIELD 10-9

ROUND 5 -- We're starting to discover why Valuev has gotten virtually no exposure in America. Bernstein makes a great observation, saying Valuev's inactivity is devaluing what Holyfield might accomplish with a decision victory. With one minute remaining in the round, Holyfield lands a sharp left hook to Valuev's head. Holyfield isn't doing much, but he's doing much more than Valuev -- and he's growing more emboldened and aggressive. Holyfield should be careful not to walk into one of the dormant giant's uppercuts. HOLYFIELD 10-9

ROUND 4 -- I'm not exactly sure what Valuev's game plan is. Unless the champion starts to throw punches, Holyfield could really open up an insurmountable lead in points. With just two substantial exchanges in the round -- and Holyfield getting the best of both of them -- another round goes to Holyfield. HOLYFIELD 10-9

ROUND 3 -- Holyfield's legs look great. His consistent lateral movement is making Valuev look like the older man. Valuev continues to throw the occasional half-hearted left jab but he's not even close to establishing the punch. Valuev has landed nothing. I'll be curious to watch this round a second time afterwards to see if Valuev even landed a single punch. I'm almost certain he didn't. Holyfield's one very solid right hand to Valuev's cheek has to give the round to Evander. I'd be tempted to score this fight 9-9 if not for the 10-point must system. HOLYFIELD 10-9

ROUND 2 -- Holyfield is still bouncing around the ring like a twentysomething and frustrating the champion. Valuev is not doing a good job of cutting the ring off. Valuev throws a fierce right uppercut but misses as the crowd calls for more action. Holyfield moves inside but Valuev wraps him up in a clinch. Holyfield is neither throwing nor landing many punches -- but by refusing to allow Valuev to mount any kind of offense, he's really doing a great job of making the champ look slow. With 15 seconds left in the round, Holyfield pounces inside and unleashes three fierce shots to the body. Valuev's dumbfounding inactivity just cost him the first two rounds. HOLYFIELD 10-9.

ROUND 1 -- A very tentative opening from both sides. Valuev, looking calm but not overly confident, throws a dozen straight left jabs to open the round but lands nothing. Holyfield is moving pretty well, refusing to stay stationary in front of the champion. (You just wonder how long he can keep it up.) Holyfield makes his first foray inside about 75 seconds into the round but doesn't land much damage. Both fighters seem to be feeling one another out, but Holyfield is the busier fighter in the first. Valuev's inactivity ends up costing him the round. HOLYFIELD 10-9