UPDATE 11:10 a.m. (Montana Time)
Remarks From Romney

“I disagree with Senator McCain on a number of issues, as you know. But I agree with him on doing whatever it takes to be successful in Iraq, on finding and executing Osama bin Laden, and on eliminating Al Qaeda and terror. If I fight on in my campaign, all the way to the convention, I would forestall the launch of a national campaign and make it more likely that Senator Clinton or Obama would win. And in this time of war, I simply cannot let my campaign, be a part of aiding a surrender to terror.

“This is not an easy decision for me. I hate to lose. My family, my friends and our supporters… many of you right here in this room… have given a great deal to get me where I have a shot at becoming President. If this were only about me, I would go on. But I entered this race because I love America, and because I love America, I feel I must now stand aside, for our party and for our country.

“I will continue to stand for conservative principles; I will fight alongside you for all the things we believe in. And one of those things is that we cannot allow the next President of the United States to retreat in the face evil extremism!!”
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Multiple sources are reporting that Mitt Romney will suspend his campaign for President.

CNN
TIME
The Politico

So long Mitt!