Sen. Joe Lieberman, the independent who caucuses with Democrats, will announce his reelection plans on Wednesday in his home state of Connecticut.

Lieberman, who is up for reelection in 2012, will appear at the Stamford Marriott at 12:30 p.m. to state his intentions. 

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The move stirred speculation about the Lieberman's uncertain political future. An announcement early in the cycle suggests retirement, but the four-term senator's decision to hold the event in Connecticut suggests he could seek another six-year term.

Lieberman's announcement comes as former state Secretary Susan Bysiewicz became the first Democrat to enter the race against him. 

Members of both political parties believe they have a shot at defeating Lieberman, who lost a Democratic Senate primary in 2006 before winning the general election as an independent candidate. 

Lieberman has always been something of a political enigma: he was the 2000 Democratic vice presidential nominee, but endorsed Republican John McCainJohn Sidney McCainMcCain: Ivanka Trump, Jared Kushner had 'no goddamn business' attending father's funeral Meghan McCain: 'SNL' parodies made me feel like 'laughing stock of the country' Our military shouldn't be held hostage to 'water politics' MORE in 2008 (and was also said to be on the short list for McCain's VP).

Lieberman's stance on the wars in Iraq and Afghanistan have angered liberals while his support for domestic programs like healthcare reform and the federal stimulus package have irked conservatives.

In order to seek reelection, Lieberman would likely have to create a party line for himself -- although he has not ruled out the possibility of running as a Democrat or Republicans.

The Connecticut senator's announcement will come one day after the retirement of Sen. Kent Conrad (D-N.D.), a long-time senator and chairman of the Budget Committee.

-- This post was updated at 2:35 p.m.