Tropical Storm Ivo formed off of Mexico's Pacific coast overnight and forecasters said Wednesday it was likely to become a hurricane.

The storm, centered roughly 570 miles south of the Baja California Peninsula, was forecast to head northwest, then take a clockwise turn toward the Baja while weakening, though the U.S. National Hurricane Center said it wasn't likely to hit land in the coming five days.

Click here to track Tropical Storm Ivo.

Ivo had sustained winds of about 58 mph early Wednesday and forecasters said it was likely to reach minimal hurricane force of 74 mph by Thursday afternoon.

While the current forecast shows it turning toward land, the Hurricane Center said the forecast past three days was "highly uncertain."