Speculation is swirling that presumptive GOP presidential nominee John McCain is about to name his choice for vice president — and that choice may well be Mitt Romney.

Veteran Washington columnist Bob Novak sparked the latest surge in supposition about what's being called the "veepstakes" by posting an item late Monday saying sources close to the McCain campaign claim the candidate is ready to make an announcement.

Novak said sources close to McCain "are suggesting he will reveal the name of his vice presidential selection this week while Sen. Barack Obama is getting the headlines on his foreign trip."

The widely read columnist went on to say, "The name of McCain's running mate has not been disclosed, but Mitt Romney has led the speculation recently." On Tuesday, though, Novak told Fox News he may have been used by the McCain campaign.

McCain and his aides are being coy with reporters, and Romney, his former rival for the GOP nomination, is said to be spending time with his family at a childhood vacation home located on the Canadian side of the Great Lakes, just across the Michigan border.

Romney's spokesman, Eric Fehrnstrom, downplayed the discussion.

"There's a lot of guessing and speculation going on, but the fact is that Governor Romney expects to be campaigning for John McCain as a supporter and not as a member of the ticket," Fehrnstrom told the Deseret News in an e-mail Tuesday.

So did Tim Bridgewater, McCain's Utah-based Western states regional coordinator.

"I do not have any information other than I know Mitt Romney and (Minnesota Gov.) Tim Pawlenty, among others, are being considered for the post. The process is further down the road, but I don't have any insight about what's going on this week," Bridgewater said.

But naming a running mate this week may be McCain's best opportunity to upstage presumptive Democratic nominee Barack Obama's newsmaking trip to the Middle East. And Romney seemingly has done everything possible to put himself on the top of McCain's list.

Not only has Romney, a former Massachusetts governor, stumped for McCain in recent weeks on numerous cable news programs, he has also helped raise millions of dollars for his campaign.

That includes $2 million collected in Utah last May, money that was shared with the GOP. Romney hosted President Bush at private events in Salt Lake City and at his Deer Valley vacation home, where couples paid as much as $70,000 to attend.

And last week, Romney formally reclassified the $45 million he loaned his presidential campaign as contributions. That move is seen as clearing the way for him to focus on the GOP ticket's financial needs rather than his own.