Sources close to Mike Huckabee tell Fox News the former Arkansas Gov. is "literally 50-50" on whether or not to make another run at the presidency in 2012.

However, Fox News has learned there are some fundraisers on the horizon for HuckPac, Huckabee's Political Action Committee. That is exactly the type of activity that will raise eyebrows among the political watchers.

The first fundraiser will take place in Texas within the next two weeks.

"He's doing great in the polls and that makes it very tempting, but he also has a lot more to lose now with very lucrative gigs in television, radio and on the speaking circuit," one Huckabee insider told Fox News.

Huckabee won the Iowa GOP Presidential caucuses in 2008 and has been at the top of a few polls recently among potential 2012 GOP presidential candidates.Although action on the campaign trail is bubbling up much later into the 2012 presidential cycle than we saw in 2008, if Huckabee wants to jump in the race, he's running out of time to start the planning.

"He knows he doesn't have to worry about name identification this time around," this Huckabee loyalist told Fox. "But he also knows the level of expectation will be through the roof. He can't just make a decent showing at the Iowa Straw Poll, he needs to win it."

This political operative, along with a handful of others, has been told Huckabee will make his decision in mid to late summer.

"I love the Governor and I'll wait as long as I can, but everyone wants to be part of the 2012 campaign and at some point all the jobs will be taken."

Building a top-rate campaign team is a huge concern but there's also the matter of lining up supporters, "Once people starting writing checks, they become attached to those candidates. That's another reason to be careful of getting into the game too late."

Mike Huckabee is a FOX News contributor.

Jake Gibson is a producer working at the Fox News Washington bureau who covers politics, law enforcement and intelligence issues.