Which is handy, because I caught myself saying it out loud in conversation the other day for the first time much to the amusement & dismay of those in my company at the time, now it's officially a word I can defend myself - lol.
"OMG! LOL's in the OED. LMAO!"
If you find the above string of letters utterly unintelligible, you are clearly an internet "noob". Let me start again.
Golly gosh! The popular initialism LOL (laughing out loud) has been inducted into the canon of the English language, the Oxford English Dictionary. Blimey! What is going on?