From KTUU:
WASILLA, Alaska -- In a stunning announcement, Gov. Sarah Palin said Friday morning she will resign her office in a few weeks.
Speculation has swirled for weeks, perhaps months that Palin would not seek re-election in 2010 as she pursues a political career on the national stage. The former vice presidential candidate has long been rumored to be considering a run at the Republican presidential nomination in 2012.
Palin did not address those rumors at the press conference at her Wasilla home, during which she did not take questions from reporters.
Lt. Gov. Sean Parnell will be inaugurated as her successor at the Governor's Picnic at Pioneer Park in Fairbanks on Sunday, July 26, Palin said.
Parnell said he will seek election to the governor's office in 2010. Parnell ran unsuccessfully against Rep. Don Young in the Republican primary last year.
Palin made the announcement flanked by Parnell and most, if not all, of her cabinet.
Update: She may have resigned due to this.