Sabine Lisicki's bullet at the West Classic in Stanford in the US clocked in at 131mph. It was 2mph faster than the previous record set by Venus Williams. It couldn't prevent Lisicki losing her first round match to Ana Ivanovic.
The fastest serve in men's tennis is 163mph which was recorded by Australian Samuel Groth in 2012.
https://www.youtube.com/watch?v=QyxyrPk8IKs