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At a press conference in Phoenix today, Sen. John McCain said he would run for a fifth Senate term in 2010.

The 2008 GOP presidential nominee laughed when asked if he would run for president again, saying he does "not envision a scenario that would entail that."

You can watch video from the press conference below.

McCain lauded President-elect Barack Obama's decision to tap Arizona Gov. Janet Napolitano for homeland security chief, saying she is highly qualified for the job.

The Arizona senator also discussed the presidential campaign, saying he looks back "with pride and honor" at the experience of running.

"I will submit myself to the judgment of history," McCain added. "I'm very proud overall of the campaign we ran and the people I was associated with and the dear friends that I have to this day."

He also discussed running mate Sarah Palin.

"I think that our base and most Americans viewed Governor Palin as a real breath of fresh air that swept across the country," McCain said, calling the Alaska governor an "energizing factor."

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John McCain appeared on “Saturday Night Live,” tonight alongside Tina Fey as his running mate Sarah Palin in what can only be described as an odd turn in the presidential election. The opening night skit featured McCain and “Palin” on the cable shopping channel QVC, with McCain noting that while Barack Obama could afford buying time on three major networks, his campaign was forced down the channel.

Among the “products” hawked by McCain were ten commemorative plates marking the ten town-hall debates the candidates had. Of course, those were the encounters proposed by McCain that Obama turned down so the plates were simply white. “Too bad, they’re still nice plates,” McCain said. Another product was a set of McCain “tough pork knives,” designed to cut through the toughest Congressional pork. Cindy McCain made an appearance as well as a presenter.

Perhaps the most awkward moment was when “Palin” announced she was going “rogue” and introduced her line of “Palin 2012” t-shirts, asking buyers to please refrain from wearing them until after Tuesday and proclaiming that she would either be a presidential candidate or the “white Oprah” after the election but would not be returning to Alaska. Welcome to the final 71 hours of campaign 2008.

Senior advisers for John McCain’s campaign and the Republican National Committee briefed reporters on the state of the race earlier today, with campaign manager Rick Davis proclaiming his candidate in the midst of “one of the greatest comebacks that you've seen since John McCain won the primary.”

Political director Mike DuHaime laid out the campaign’s efforts in targeting voters over the past several days, saying that the joint effort with the RNC has given the campaign a “data and technology edge” that has allowed for intense micro-targeting and voter identification. DuHaime said the effort has far outpaced that of the Bush campaign in 2004. “In the past week, past seven days, we've made over 5.3 million targeted calls and door knocks,” he said according to a transcript of the call released by the campaign. “These are the people we believe are either going to vote for McCain and need the push to get out or are people who are persuadable voters that we think are still sitting on the fence that we need to personally touch. We did 1.3 million phone calls and door knocks yesterday alone.”

Davis also predicted that the McCain campaign will have outspent Barack Obama’s in TV advertising over the last ten days of the campaign when all is said and done and insisted that many voters remain in the class of late-breakers. And, on the subject of running mate Sarah Palin, Davis launched a strong defense. “Governor Palin's crowds are huge,” he said, noting that her event last night drew 20,000 people while Joe Biden drew just 800 in the same vicinity. “So, all the talk that we see on television and the newspapers about what a drag Governor Palin is on our ticket can't be further from the truth. She's electrifying crowds all across the battleground states, and we really appreciate the hard work she's putting in.”

Just weeks after his running mate appeared on “Saturday Night Live” alongside her mimic Tina Fey, John McCain will appear on the last regular pre-election episode of the show tomorrow night. No word on what part McCain would have on the program but he’s no stranger to the set, having last appeared on the show in May. McCain also hosted it in 2002.

On a conference call this morning, Obama campaign manager David Plouffe told reporters that his campaign is expanding advertising into three states in which few expected the Democratic nominee to be competitive: North Dakota, Georgia, and John McCain's home state of Arizona.

McCain has represented Arizona in Congress for 26 years, but recent polls have shown Obama by just the low single digits in the state.

Pressed on why the campaign was advertising in the three states when other battleground states remain tight, Plouffe said the polls were close enough to justify the effort. “We’re just going to give it a go in the last 4 days and see how close we can get it,” he said, adding that the campaign's push in the three states would not detract from its efforts in more traditional battlegrounds.

We wrote about the two spots now set to air in the three states, "Rearview Mirror" and "Something," yesterday. Check them out here.

"Something," which Plouffe referred to as a "positive closer," will be airing in Arizona. He said "Rearview Mirror," which links McCain to President Bush, will air in the other two states because "we've seen movement" there. He cited "highly encouraging" early voting numbers in Georgia and noted the campaign has organizations in all three states.

The Obama campaign would not release the size of the advertising buy.

On a conference call this morning, Obama campaign manager David Plouffe told reporters that his campaign is expanding advertising into three states in which few expected the Democratic nominee to be competitive: North Dakota, Georgia, and John McCain's home state of Arizona.

McCain has represented Arizona in Congress for 26 years, but recent polls have shown Obama trailing by just the low single digits in the state.

Pressed on why the campaign was advertising in the three states when other battleground states remain tight, Plouffe said the polls were close enough to justify the effort.

“We’re just going to give it a go in the last 4 days and see how close we can get it,” he said, adding that the campaign's push in the three states would not detract from its efforts in more traditional battlegrounds.

We wrote about the two spots now set to air in the three states, "Rearview Mirror" and "Something," yesterday. Check them out here.

"Something," which Plouffe referred to as a "positive closer," will be airing in Arizona. He said "Rearview Mirror," which links McCain to President Bush, will air in the other two states because "we've seen movement" there. He cited "highly encouraging" early voting numbers in Georgia and noted the campaign has organizations in all three states.

The Obama campaign would not release the size of the advertising buy.

Sen. John McCain and the Republican National Committee are reportedly running anti-Barack Obama robocalls in Arizona – McCain's home state.

Talking Points Memo reports that the calls hit Obama for being inexperienced and soft on terrorists. The script:

I'm calling for John McCain and the RNC because Barack Obama is so dangerously inexperienced, his running mate Joe Biden just said, he invites a major international crisis that he will be unprepared to handle alone.

If Democrats win full control of government, they will want to give civil rights to terrorists and talk unconditionally to dictators and state sponsors of terror. Barack Obama and his Democratic allies lack the experience and judgment to lead America. This call was paid for by the Republican National Committee and authorized by McCain-Palin 2008.

Few expected McCain's home state to be within Obama's reach, but recent polls have suggested McCain's lead has shrunk to the single digits in the state.

Samuel Wurzelbacher, who became famous when John McCain repeatedly referred to him as "Joe The Plumber" during the third presidential debate, endorsed the Republican presidential nominee today.

A registered Republican, Wurzelbacher did not come out in favor of a candidate before today, though he has long appeared to be leaning towards McCain. The GOP presidential nominee has consistently invoked Wurzelbacher on the campaign trail.

"I mean I have a pretty good idea who I’m going to vote for but you know that’s my - you know, the nice thing about going into the booth is only me and the lever knows," Wurzelbacher told CBS' Katie Couric right after the third debate. "I think McCain did a fine job this evening, I think he brought up some good points. I do like his health care and I do like his, where he stands on taxes."

Wurzelbacher campaigned for McCain in Columbus, Ohio this morning. He said Barack Obama wants to redistribute wealth and would make America a socialist nation, according to the Associated Press. He also said he believes Obama will raise taxes on the middle class, despite Obama's promises to cut their taxes.

The McCain campaign has released a new ad, "Compare," that suggests Barack Obama will raise taxes, hurt small businesses, and be a "risky" president. The spot is set to air in "key states."

"Your choice," a female announcer says as the spot opens.

As a photo of Obama appears, the announcer says, "for higher taxes." When McCain appears, she says, "for workin' Joe's."

Though the ad implies that the Democrat will raise taxes on "workin' Joe's," Obama says the only people who would see their taxes go up under his plan are those making more than $250,000 per year.

Obama, the announcer continues, will "spread your income," while McCain wants the viewer to "keep what's yours."

The Democratic candidate, she adds, represents "a trillion in new spending," while McCain wants to "freeze spending, eliminate waste."

As Obama again appears onscreen, she says "pain for small business." McCain's picture is accompanied by the words "economy growth."

Finally, she says Obama is "risky," while McCain is "proven."

"For a stronger America, McCain," she concludes.

John McCain will not appear in front of crowds of supporters inside the Biltmore Hotel in Phoenix on Election Night, the Associated Press reports. Instead, he is planning on delivering his election night remarks to a small group of supporters, reporters and guests on the lawn outside. McCain aides say he that’s because of space issues inside the hotel and that he may drop into the party at some time during the evening. McCain’s remarks will be shown inside the party, according to the report.

Meanwhile, the Chicago Tribune reports that Barack Obama’s outdoor election night party in Chicago will cost about $2 million, paid for by the campaign. The event will be held in and around the city’s Grant Park.

Update: CBS News chief political consultant Marc Ambinder reports that the McCain campaign is disputing this report: "He'll speak outdoors on the lawn in front of backlit Camelback mountains -- it will be beautiful -- and 2000 plus people will be out there with him. The rest of the guests will be in ballrooms and overflow tents with widescreen TV's."