Lib Dem leader Nick Clegg to be deputy PM

Liberal Democrat Party leader Nick Clegg walks back to his house in London May 11, 2010.

LONDON (Reuters) - Nick Clegg, the leader of the Liberal Democrats, will become deputy prime minister in the new coalition government, Prime Minister David Cameron's office said on Tuesday.

"Her Majesty The Queen has been pleased to approve the appointment of Nick Clegg as Deputy Prime Minister," a spokesman for Cameron said in a statement.

"It has been agreed that five Cabinet posts will be filled by Liberal Democrats, including the appointment of Nick Clegg."

Cameron's Conservatives won the most seats in last Thursday's parliamentary election but failed to win an overall majority, prompting them to seek a power-sharing deal with Clegg's Lib Dems.

(Reporting by Michael Holden)