RXJ0806.3+1527: a double degenerate binary with the shortest known   orbital period (321s)
  We carried out optical observations of the field of the X-ray pulsator RXJ0806.3+1527. A blue V=21.1 star was found to be the only object consistent with the X-ray position. VLT FORS spectra revealed a blue continuum with no intrinsic absorption lines. Broad (v~1500 km/s), low equivalent width (about -1/-6A) emission lines from the HeII Pickering series were clearly detected. B, V and R time-resolved photometry revealed the presence of about 15% pulsations at the 321s X-ray period, confirming the identification. These findings, together with the period stability and absence of any additional modulation in the 1min-5hr period range, argue in favour of the orbital interpretation of the 321s pulsations. The most likely scenario is thus that RXJ0806.3+1527 is a double degenerate system of the AM CVn class. This would make RXJ0806.3+1527 the shortest orbital period binary currently known and one of the best candidates for gravitational wave detection. 
G.L. Israel, W. Hummel, S. Covino, S. Campana, I. Appenzeller, W.   Gassler, K.-H. Mantel, G. Marconi, C.W. Mauche, U. Munar...