No, this is not a drill nor is it a joke: From MLB Trade Rumors:
The Yankees signed first baseman Lyle Overbay to a minor league deal, tweets Erik Boland of Newsday. Overbay was released this morning by the rival Red Sox, who avoided a $100K retention bonus in the process.
Overbay, 36, hit .259/.331/.397 in 131 plate appearances for the Diamondbacks and Braves last year. He was squeezed out in Boston due to their Mike Carp acquisition, but has found a potential opportunity with the Yankees due to a wrist injury that will sideline first baseman Mark Teixeira into May in the best case.
It's only a Minor League deal but it's actually not surprising. As soon as they were rumblings that Overbay was on his way out of Boston people were saying how the Yankees would scoop him up.
Have at it in the comments!