A short news article on Echo of Moscow:
As the National Center for Civil Protection assures, there is no danger for the population.
Hundreds of people in the south of Iceland were eveacuated from their homes last night because of the volcanic eruption.
The natural phenomenon started just after midnight. The volcano, which slept for almost two centuries, spit out smoke about 160 km to the south-east of the Icelandic capital Reykjavik, said the British Broadcasting Corporation (to the BBC article).
According to experts, the volcano broke the ice shell that covered it like an armour, and now there is the threat of flooding in a nearby area because of the melting ice. However, rescuers are asking local residents not to panic, but at the same time advised to keep away from the volcano at a safe distance. I should add that as a result of a this natural disaster covered most roads in the south of Iceland are closed.
Note that because of the volcanic eruption already three flights of the airline Icelandair from the U.S. to Iceland were cancelled.
There is also an article on visir.is on this (in Icelandic).