Sarah Palin just held a live press conference from Wasilla, AK stating that she is resigning her post as governor. WOW.

Gov. Sarah Palin will resign her office in a few weeks, she said during a news conference at her Wasilla home Friday morning.

Lt. Gov. Sean Parnell will be inaugurated at the Governor's Picnic at the end of the month, Palin said.

There was no immediate word as to why she will resign, though speculation has been rampant that the former vice presidential candidate is gearing up for a run at the 2012 Republican presidential nomination.

Palin made the announcement flanked by Parnell and most, if not all, of her cabinet.

More details and commentary to come as this story develops...

Cross-posted from Cassy's blog. Stop by for more original commentary or follow her on Twitter!