Code red- Returning?

Has anyone out there noticed an increase in a Code-Red patterned virus? I know about the Microsoft bug that came out yesterday/last night. But I am seeing the same symptoms as Code Red, 800+ hits in the last 12 hours, from the same Class A network I am on. The amount is increasing per hour.. It started with 50 the first hour and now it just about 150 an hour... Thoughts? thanks, Jim