If you ever wanted to fly to work like the ‘Jetsons’ you may be in luck. A new flying car is in the works!

According to the La Times, last month, the National Highway Traffic Safety Administration granted the “Transition Roadable Aircraft” a series of special exemptions which has effectively made the plane-car hybrid street legal. The Transition was developed by a team of MIT-trained researchers for the company Terrafugia. The two seater is able to morph from a car to a plane in about 30 seconds. It also runs on regular unleaded gas, instead of more expensive rocket fuel.

The flying car will run for about $250,000.  Terrafugia estimates it will be available to the public by the end of 2012.  Here’s the Transition Roadable Aircraft in action:

Would you buy one?