We have obtained new radial velocities for the binary Cepheid Z Lac. T
hese data have been combined with new velocities by Imbert (1996) and
other data in the literature to derive an orbit. The orbital period is
close to a year, making Z Lac the Cepheid with the shortest orbital p
eriod known. It is also the only Cepheid with an orbital eccentricity
indistinguishable from zero, Comparison between the projected semi-maj
or axis and the radii of 5 and 7 M. stars at the tip of the red giant
branch [from the evolutionary tracks of Schaller et al. (1992)] indica
tes that the orbit was probably circularized during the red giant phas
e. (C) 1996 American Astronomical Society.