PHILADELPHIA -- The Phillies could have waited, but they must not have seen the point.

Philadelphia announced Friday that it has exercised the 2011 club option on shortstop Jimmy Rollins, who will be paid $8.5 million. Rollins signed a five-year, $40 million extension in June 2005.

The move is significant because it means the Phillies have one more player locked up through 2011.

Seven of the team's eight position players are under contract or under their control through 2011. Only right fielder Jayson Werth becomes a free agent after 2010. The Phillies will also have pitchers Roy Halladay, Cole Hamels, J.A. Happ, Brad Lidge and Ryan Madson under contract or under their control.

"Jimmy has always been an integral part of our club, not only on the field, but in the clubhouse as well," Phillies general manager Ruben Amaro Jr. said in a statement. "He has been a big part of the team's success over the past three years, and there is no doubt that we want him to be a part of that in the future."

Rollins, who won the 2007 National League Most Valuable Player Award, hit .250 with 22 home runs, 77 RBIs and 31 stolen bases last season. He also led all Major League shortstops in fielding percentage (.990) and committed a career-low six errors on his way to winning his third consecutive Gold Glove Award.

Rollins, who the Phillies selected in the second round of the 1996 First-Year Player Draft, ranks third in franchise history in doubles (350). He also ranks fourth in stolen bases (326), fifth in runs scored (945), triples (95) and extra-base hits (591) and eighth in hits (1,629).