By Yereth Rosen

ANCHORAGE, Alaska - Alaska Governor Sarah Palin, the Republican Party's vice presidential candidate in 2008, said on Friday she will resign this month, an unexpected move that could signal a run for higher office.

Palin took no questions after a brief news conference in her hometown of Wasilla, Alaska, members of her state Cabinet by her side. She gave no indication of her future plans.

"I'm not seeking re-election" in 2010, Palin said, adding she would transfer authority to Lieutenant Governor Sean Parnell on July 26.

"We are not retreating, we are advancing in a different direction," she said. "We know we can effect positive change outside government at this moment in time."...Read more