Hey CT. Only just noticed this thread.
Anyway, well done on finally accepting yourself.
I knew in my childhood that I was not exactly the "same" as everyone else in regards to sexuality, but took until my middle and late teens to finally accept it. Despite this, I only told my parents when I was 21 - so there should be pressure on you to go skipping gaily to your parents in skin tight lycra, wearing a tiara, waving a fairy's wand proclaiming "Oh sweetie darling! I just love sucking on the purple lollypop! No supping of the wine from the fur tea cup for me, oh noooo!"
You'll know when the time is right. And when it is right, there'll be no stopping you.
And don't try too hard to plan out "the" conversation beforehand. I tried that with my mother and it went horribly wrong, albeit in a very comical way that still makes me chuckle to this day.
But to reiterate what other people have said, not everyone is accepting at first, and that includes your parents. Even though they are most likely to eventually be accepting, it will probably take some time. Parents automatically get ideas and images in their heads of what your life will be like when you grow older. Mostly, that includes 2.4 children playing in the back garden of some luxurious suburban home, whilst you do a bit of DIY and the wife bakes a cake. It will take a bit of time for your parents to adjust that image. How long it will take will depend upon your parents, and you know them better than anyone else. Perhaps better than anyone else on planet earth.
But despite that bit of doom and gloom, your parents will come around. You are their son. Their love for you should be unconditional, so don't worry and don't fret. When the time is right, go for it. The only thing I would strongly emplore you not to do is tell them by leaving a note on the coffee table. It maybe the safest way out, but that will hurt them. I was going to try telling my mother through an e-mail. I'm glad I didn't.
Anyway, hope this is in someway useful. If you need to chat to someone, gay man to gay man and all that, you're quite welcome to get my contact details off of Eltara (Lloyd List), Wouter, Primo, or from anyone else that knows me. In the meantime, read my signature and I wish you good luck.
@ Archangel
"which is in turn probably the main reason they dont have sex as much"
Being gay does not mean that you don't get much sex or as much sex as heterosexuals. I am proud to report that me and my boyfriend have a rather active sex life. 
To those who understand I extend my hand; To the doubtful I demand to take me as I am.