Updated information here. It is predicted that if there was to be any ash emitted, it would not cause the same level of disruption as in 2010 due to new systems and technology in planes, allowing them to detect and fly around ash clouds. All airports in Iceland are functioning as normal.
Radio programme (BBC Radio 4), worth a listen. Covers the recent activity in Iceland from around 2mins to 9mins, interviews a man who has the most amazing job!