Breaking from the Indianapolis Star-Tribune:

U.S. Rep. Mike Pence shut the door today on a run for the presidency, but left wide open the likelihood that he’ll seek a different office: Governor of Indiana.
“In the choice between seeking national office and serving Indiana in some capacity, we choose Indiana,” Pence, R-Columbus, said of himself and wife Karen in a letter being sent to supporters. “We will not seek the Republican nomination for president in 2012.”
He said he would make a decision “later this year” about what his next political step is, but by not running for president it is considered a virtual certainty that he will run for the GOP nomination for governor. While he could, instead, run for a seventh term in Congress, that’s not considered likely given that Pence gave up the job that would have made him the fourth-highest ranking Republican in the House after the November elections, in order to focus on other political opportunities.