
GM League is currently live on SEA and China and will go live on the remaining servers in the next day or two.
This has already been announced, but there has been quite a few questions that have arisen of late that should be clarified about the GrandMaster League. Thanks to Excalibur_Z for being so very informed on subjects of this nature. Here's his post from Team Liquid:
Grandmaster is the highest league in the SC2 ladder, consisting of the top 200 players in the region. Grandmaster League goes live 2 weeks after a ladder season begins.
Eligibility
Eligibility is determined over the opening two weeks of a ladder season. Players who have the 200 highest MMR moving averages and who have bonus pools that are less than 90 (1 week's worth) will have spots reserved for them in Grandmaster League. However, you need to win a game after the league goes live in order to be promoted. An important clarification here (noxn asked this question yesterday and I got an answer today): if you have a slot reserved but someone else gets a higher MMR moving average than you before you play your promotion game, your slot will be taken!
Activity Rule
Grandmaster players remain in Grandmaster League until the end of the season. If your bonus pool accumulates to 180 (2 weeks' worth), you are automatically removed from Grandmaster League and a new player will take your spot. This is the only way to get removed from this league.
Please keep GM League discussion to this thread. GM League is currently live on SEA and China and will go live on the remaining servers in the next day or two.
And from the horse's mouth:

Comments
Ah, so that's the icon that I'll never see in my profile. lol
Don;t worry, you are not the only one =P
elcoco, check your PM box please :)
"There is no shame in defeat so long as the spirit is unconquered."