Domain Name B.LY is now being auctioned at Sedo. It also includes the additional domains: BE.LY and BEE.LY.
The current bid (as of 3rd of November 2010) is 3,000 euro.
The auction ends on 10th of November 2010.
We will keep you informed about any further developments.
Short link: http://name.ly/~x1RK$92