Per the Los Angeles Times, the Dodgers are expected to announce later today that Ramirez will be suspended for 50 games beginning with tonight's game in L.A. and not be eligible to play until July 3.

(Twitpic posted by @nkotbgal21)
A source told the Times that Ramirez is expected to say the positive test is a result of medication received from a doctor for a personal medical issue.
This morning the Dodgers informed triple-A outfielder Xavier Paul that he will be going to L.A.
Ramirez has had a pretty clean image since arriving in L.A. last year from the Boston Red Sox, but now he joins the ranks of Alex Rodriguez -- the game's highest-paid player who acknowledged in February he used steroids from 2001-2003 -- as another Major League Baseball player involved with the use of performance-enhancing drugs.
Most of the Twitterverse seems to be disgusted or not surprised:
jscheck4 Manny Ramirez - damn, good thing the Red Sox got rid of you when they did. _JessicaMarie_ Manny Ramirez positive for performance enhancement drugs!!!! I always knew he was dirty!! shellynne7 Suck it, Manny Ramirez! Robzho MANNY RAMIREZ ON STEROIDS & SUSPENDED 50 GAMES! GOODBYE DODGERS? BONDS, CLEMENS, AROD, and MANNY SUPPOSED TO BE THE BEST OF ALL-TIME. JasonKennedy1 Manny Ramirez suspended 50 games for performance enhancing drugs, R U SERIOUS DUDE? Where is ur head! kbctourcompany Breaking News: Manny Ramirez tested positive for steroids - suspended 50 games. What a maroon. Dknyj Rt sny Report: Manny Ramirez suspended 50 games following positive performance-enhancing drug test - been saying this for years! okey2 Manny Ramirez has been suspended for 50 games. Tested positive for Performance Enhancing Drugs. No one happier than A-Rod about this! DBacks08 Manny Ramirez Should get banned from baseball altogether for sheer stupidity. What a hack!