Well this makes a pretty good October Surprise.
Here is the English language report from their website (oddly enough, I swear I got a US Army info lead pop-up when I went there!)
Iran Launches Maneuvers With Shahab Test
TEHRAN, Nov. 2--Iran has launched 10 days of military maneuvers by firing modified Shahab missiles with the capability of carrging cluster bombs at very high speeds.
The exercises, code-named 'The Grand Prophet 2', began near the central city of Qom but they include drills in 14 provinces mainly focusing on the Persian Gulf and Sea of Oman.
During the air, land and naval exercises, Iran will test a series of advanced weapons, including submarines, torpedoes as well as other anti-sub and anti-warship arms.
The missiles fired Thursday morning were of Shahab-3 type, which have a range of 2,000 kilometers.
The Grand Prophet exercises are held in four stages, with the first stage held in April.
The new maneuvers are staged by the Islamic Revolution's Guards Corps (IRGC)'s air, ground and navy forces as well as voluntary Basij forces.
IRGC head General Yahya Rahim Safavi said Wednesday that "the war games are aimed at demonstrating the deterrent power of the (Revolutionary) Guards against possible threats".
Safavi stressed that the drills are not a threat to Iran's neighbors, saying: "Our neighbors are our friends." "The guards just want to prove that they ready to resist in any threatening situation."
Safavi also told state TV that the Iranian exercises would be used to test fire ballistic missiles.
"Missiles Shahab-2 and Shahab-3 with cluster warheads and a range of over 1,000 km will be shot as well as hundreds of rockets and other missiles such as Fateh and Zolfaghar," he said.
The announcement came two days after US-led warships finished two days of exercises in the Persian Gulf which were described by Iran as "adventurist".
Iran said the drills involving Australia, Bahrain, Britain, France, Italy and the US would not improve security in the waters of the Persian Gulf, through which about 20 percent of the world's oil passes. It also called on Persian Gulf nations to set up their own regional security arrangements.
Iran held its last military exercises in August and successfully tested its first home-made fighter plane Saeqeh (Lightning).
IRGC's commander Yahya Rahim Safavi. Safavi has stressed that the new maneuvers are not a threat to Iran's neighbors.