Search for Gravitational Waves from Compact Binary Coalescence in LIGO and Virgo Data from S5 and VSR1

We report the results of the first search for gravitational waves from compact binary coalescence using data from the Laser Interferometer Gravitational-wave Observatory (LIGO) and Virgo detectors. Five months of data were collected during the concurrent S5 (UGO) and VSRI (Virgo) science runs. The search focused on signals from binary mergers with a total mass between 2 and 35 Solar Mass. No gravitational waves are identified. The cumulative 90%-confidence upper limits on the rate of compact binary coalescence are calculated for non-spinning binary neutron stars, black hole-neutron star systems, and binary black holes to be 8.7 x 10(exp -3) / yr-1/L(sub 10) 2.2 x 10-3 yr-1L101, and 4.4 x 10(exp -4)3) / yr-1/L(sub 10) respectively, where L (sub 10) is 10(exp 10) times the blue solar luminosity. These upper limits are compared with astrophysical expectations.