The Politico is reporting that barring a surprise showing today in Iowa former Senator Fred Thompson will drop out and give his support to Senator John McCain.

Iowa – Several Republican officials close to Fred Thompson’s presidential campaign said they expect the candidate will drop out of the race within days if he finishes poorly in Thursday’s Iowa caucus.

Thompson’s campaign, which last spring and summer was generating fevered anticipation in the media and with some Republican activists, has never ignited nationally, and there are no signs of a late spark happening here in Iowa, where even a third-place finish is far from assured.

However on two morning shows today Thompson denied the report:

CNN: Denied story about possibly dropping out, backing McCain. “I’ve never said that, I’ve never implied that, in public or in private.” Talked oil prices, CIA tapes. Repeated that having too much “personal ambition” is a danger for candidates.

Fox: Again denied story about dropping out, saying it was probably planted by rival campaign. “There is no such Thompson adviser. It is not something I have thought about or discussed with anybody.” Maintained he’s doing well in Iowa, said he didn’t get in the race late, others got in early. “We’ll see whether being in everyone’s face for two years and spending $100 million is necessary.”