UPDATE 3-NASA successfully tests new tall moon rocket

* Test flight of Ares 1-X is first in new moon program

* NASA's new rocket designed to replace aging shuttles

* But Ares program subject to review

(Updates with details, more quotes)

By Irene Klotz

CAPE CANAVERAL, Fla., Oct 28 (Reuters) - An unmanned NASA rocket designed to help develop a new space taxi service to the moon streaked through the sky on Wednesday on a successful two-minute test flight.

The 327-foot (100-metre) Ares 1-X rocket, the world's tallest, blasted off at 11:30 a.m. EDT (1530 GMT) from a modified space shuttle launch pad at Cape Canaveral in Florida.

The slim white craft powered into the blue sky over Florida on a column of flame and smoke.

"That was just unbelievable, that was fantastic. I've just got tears in my eyes," Kennedy Space Center Director Bob Cabana told the launch team.

The launch was NASA's first new vehicle since the space shuttle debuted in 1981.

Firing its motors for just over two minutes, the Ares 1-X rocket flew to an altitude of 28 miles (45 km) and reached a speed nearly five times that of sound.

It parachuted back down into the Atlantic Ocean and was to be retrieved by a NASA ship.

"The vehicle flew better than expected," said mission manager Bob Ess. "We completely met all of our test objectives -- hugely successful."

The new demo rocket is the centerpiece of a $445 million NASA program to verify designs for vehicles intended to replace the agency's retiring space shuttles.

The space shuttles are due to be retired next year after six more missions to complete the space station.

In addition to ferrying astronauts to the International Space Station 225 miles (360 km) above Earth, the booster is intended to be part of a system to fly astronauts to the moon and other destinations in the solar system.