By Jeremy Herb and Baird Helgeson

Former Gov. Tim Pawlenty will announce he is forming an exploratory committee to run for president Monday afternoon, Pawlenty told supporters Monday morning.

"We're filing the paperwork today to form an exploratory committee to run for president of the United States," Pawlenty said on a call to supporters Monday morning, which Politico dialed into. "It's not the full announcement, but, assuming the exploratory committee goes well, that will come soon enough."

The new committee, which will be based in Minneapolis, will allow Pawlenty to raise money for the national bid he has been eyeing for more than a year, sources confirmed.

Pawlenty is not expected to be coy about his intentions, a source said.

Many candidates form exploratory committees to intensify the will-they-or-won't-they buzz. It becomes a highly-publicized step in the often heavily choreographed march toward a presidential announcement.

Pawlenty is in, the source said.

"There's may be a formal announcement down the road, in as little as a few weeks or so, but Tim is going to be more clear about his intentions," the source said.

Pawlenty spokesman Alex Conant told reporters Monday morning that Pawlenty is making a "major announcement exclusive to supporters on Facebook" at 2 p.m. CDT today.

"With all due respect to President Obama I think he has taken this country in the wrong direction," Pawlenty told supporters on the morning call. "It's important we all do that we can to push back and reclaim a better direction and a brighter future for America. That's what I intend to do by running for president and winning the presidency of this country if I choose to run."

Pawlenty would be the second major 2012 presidential hopeful to form an exploratory committee, following former House Speaker Newt Gingrich. So far, no major Republican candidates have declared they're running for president.

The former Minnesota governor has methodically visited the early primary and caucus states over the past year, attempting to raise his national profile and lay the groundwork for a campaign operation.

To gain access to Pawlenty's "special message", supporters have to "like" his Facebook page.

Eric Roper and Rachel E. Stassen-Berger contributed to this report.