Lindsay Lohan‘s probation has been revoked and a bench warrant issued for her arrest!

Although the bench warrant was issued, it’s being held — i.e., on hold — until Friday at 8:30 AM, when Lindsay is ordered to appear in court.

The move by Judge Elden Fox comes after Lindsay failed two drug tests recently … one showed the presence of cocaine and another showed amphetamines.

The probation report — outlining the failed tests — was just filed with the court.

Judge Fox could sentence Lindsay to 30 days in jail for each failed drug test.

tmz