Tour de France director, Christian Prudhomme has welcomed the move too and found it "totally logical".
The UCI accepted USADA's findings on the systematic doping that Armstrong and the United States Postal team had indulged in.
The UCI management is to get together on Friday to take a call on Armstrong's future and the sporting consequence of this decision.
They will also talk on how the seven titles and prize money will be redistributed, or if at all there will be any changes made.
As for the Tour de France, Prudhomme wants those seven years to be left blank without any new winner.
The bronze medal that Armstrong won at the 2000 Sydney Olympics, is likely to be discussed as well.
Armstrong, who deleted the mention his Tour titles from his Twitter page, also needs to pay up $7.5 million to the Texas Insurance company.
Aftermath: Lance Armstrong may have to return money
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