The families of two American hikers still jailed in Iran and U.S. officials are hopeful that the men may soon finally be freed.

FOX News Radio's Emily Wither reports from London:

The $500,000 bail for each of the men would be equal to the bail paid for the release of Sarah Shourd.

U.S. State Department Spokeswoman Victoria Nuland says officials are cautiously optimistic and watching for new details: