Does Donald Trump Want to Be Vice President?

Vice President Trump?

Would Donald Trump consider being a vice presidential running mate?

This is a rush transcript from "On the Record," December 1, 2011. This copy may not be in its final form and may be updated.

GRETA VAN SUSTEREN, FOX NEWS HOST: Donald Trump is not running for president, at least not right now. But what about vice president? Presidential candidate Michele Bachmann tells "On the Record" that Trump is on her vice president shortlist.

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VAN SUSTEREN: Anyone who is not running for president, who do you think would be an ideal vice president for you?

MICHELE BACHMANN, GOP PRESIDENTIAL CANDIDATE: We have lot of wonderful candidates who would fit that Bill. Easily comes to mind I think would be Senator Jim DeMint of South Carolina. Mark Rubio of Florida certainly would be in that category. There's a lot of great people out there. And Donald Trump is someone I think a lot of people would be intrigued with, too.

VAN SUSTEREN: I think people would be very intrigued, not to mention he would love it himself.

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VAN SUSTEREN: So would Donald Trump love to be vice president? Today we went straight to Donald Trump to get the answer.

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VAN SUSTEREN: Last night "On the Record" Congresswoman Michele Bachmann was on, and I asked her who would be a good vice-president.

DONALD TRUMP, REAL ESTATE MOGUL: She said?

VAN SUSTEREN: Donald Trump.

TRUMP: That's a great honor. I've actually gotten to know her, and she's a terrific person.

VAN SUSTEREN: Would you take it?

TRUMP: It's such an honor she says that. The answer is no because I love what I'm doing. But I think she's a terrific person. And she's had some great moments. She's really had some very good moments, and some of her points are getting through.

Now, we had a little dispute on the Newt Gingrich with the 25-year situation. I said Michele is a really good person and I don't think she's going to walk across the street and tell those people who have been fantastic get out of town. So we'll see. But I actually heard she suggested that and it's a great honor.

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VAN SUSTEREN: It looks like the Republicans will have to keep up the search for a vice-presidential candidate.