Can something as simple as rice save your wet cell phone?  According to Popular Mechanics it is that easy.  Well okay, there are a few more steps.  Like most importantly, do NOT power up your phone to see if it still works.

The most convenient choice is uncooked rice. Just leave the phone (and its disconnected battery) submerged in a bowl of grains overnight. If you're worried about rice dust getting inside your phone, you can instead use the packets of silica gel that often come stuffed in the pockets of new clothes. But acting fast is far more important than avoiding a little dust, so don't waste time shopping if you don't already have a drawer full of silica gel.

For step by step instructions on saving your phone click here.

via HowtoDryOutaCellPhone-FixaWetCellPhone-PopularMechanics.