Via Fox News:
Former New York City Mayor Rudy Giuliani has ruled out a run for the Senate in 2010, NewsCore has learned.

The seat is currently held by Sen. Kirsten Gillibrand (D-NY), who was appointed by New York Gov. David Paterson when former Sen. Hillary Clinton joined the Obama administration as secretary of state.

One source close to the former mayor says that instead of running for office, he will be pursuing other business opportunities in the private sector, noting that after his 2008 Presidential run the Mayor still has the status within the party and the platform from which "to engage on national issues that are important to him.’

Giuliani is also expected to announce his intention to revive his Solutions America PAC as a vehicle to promote Republican party candidates in 2010, the source said.