The chairman of the state Republican party is urging Gov. Bill Owens to enter the race for the United States Senate but Owens on Thursday said that he won't make a snap decision about entering the race.

He said he planned to talk with his family and political leaders in the state and the country before he announces his decision in a week or 10 days.

"Throughout the day (Wednesday), I heard from a lot of friends. We got e-mails and messages and phone calls, asking me to consider running for the United States Senate and I appreciate all that support. The United States Senate has rightfully been called the world's greatest deliberative body. It's the center of our democratic system. Giants in American history have served there and it's really a privilege to even be considered as a potential United States senator. That's why I believe you don't make a snap decision to run for the U.S. Senate. You don't flip a coin and set out immediately on a statewide campaign," Owens said.

"The people of Colorado who have honored me with their trust for many years deserve much more that that. My family deserves more than that as well. This decision isn't going to be made on anybody's time table but our own," he said.

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Sen. Campbell Tells 7NEWS Whom He Favors For His Open Seat

Owens cannot seek a third term in 2006 because of term limits.

GOP chair Ted Halaby issued a statement Thursday saying that he can't think of a more viable candidate for the office than Owens, citing Owens' friendship with President George W. Bush and support of the president's agenda.

Incumbent Republican Sen. Ben Nighthorse Campbell caused a political earthquake when he announced Wednesday that he would not seek a third term this fall.

The 70-year-old Campbell cited declining health and the stress of the job as the reasons why he was not seeing re-election.

"It was kind of like a weight taken off my shoulders because part of my problem was stress driven, unfortunately, for that gastric problem I was having," Campbell told 7NEWS. "When I was laying there on that gurney in the emergency room I decided, 'Wait a minute I need to get a real life back here if I'm ever going to see my grandchildren ... It's time to go back and to have a real life."

He said the responsibilities of being a senator -- the 80-hour weeks, thousands of hours on airplanes, long hours away from family, deciphering complicated legislative bills -- can accumulate during the years in public office.

There are already five Democrats in the race for his seat, none of them particularly well known. Speculation on bigger names getting into the race began immediately and at the top of the list was Owens.

"It is just clear that he is the state's leading representative in terms of vote-getting power and national reputation," said Fred Ciruli, an independent consultant and Denver pollster.

"I don't have a real preference. I think both parties have got some very strong candidates and some popular people. I would think that if Gov. Owens gets involved in it, that he would have the broadest base of support because he's the only statewide office holder that I've heard that might be interested," Campbell said.

Ciruli said the governor is likely weighing several factors, such as possibly leaving in the middle of his second term. He said protocol is also an issue: Owens probably wouldn't make a political move immediately after news that one of the state's most popular politicians and a former colleague in the Legislature is retiring.

Campbell was treated for prostate cancer last year and was hospitalized twice in the past week for unrelated problems. His Washington office also faces allegations that a longtime aide took kickbacks.

His decision to retire will make it harder for Republicans to build on their 51-48 Senate majority and means they will have to spend more money in Colorado than they planned.

"Obviously, Sen. Campbell's announcement is a major setback for Republicans," University of Virginia political scientist Larry Sabato said. "It is not something they could ever have wanted."

Besides Owens, another potential GOP contender is Rep. Scott McInnis, a six-term congressman who announced last year he would not seek re-election. He still has nearly $1.5 million in his campaign account.

McInnis said Wednesday he must talk to his wife before making a decision. Rep. Tom Tancredo and state Treasurer Mike Coffman, both Republicans, also expressed interest in the seat.

On the Democratic side, pollsters suggested former Sen. Gary Hart might get into the race. Hart earlier declined to seek the seat.

Democratic Rep. Diana DeGette said she was weighing the possibility of running at the request of party leaders. Rep. Mark Udall declined to say if he was reconsidering his decision not to run. A party source in Washington said Udall had sent out word in recent days that "he wanted to leave the door open" after the kickback allegations surfaced.

One of the five Democratic candidates, millionaire think-tank founder Rutt Bridges joined the race Sunday at the urging of party leaders after Udall, Hart and others declined to run.

Campbell's turnabout came just four months after he announced his re-election campaign at a Denver fund-raiser with Vice President Dick Cheney in attendance. He said his prostate cancer was under control and that he felt "just fine."

But Wednesday, he said his failing health was too much.

"Doctors have assured me that after treatment for prostate cancer, the recovery rate is 98 percent," he said. "But, I believe Coloradans deserve a 100 percent guarantee of service."

He told 7NEWS that he didn't talk to the president or any of the Republican leaders before he made his announcement because he didn't want to be talked out of his decision.

He said he informed Senate Majority Leader Bill Frist, who said he was concerned about the seat being turned over to a Democrat but as a medical doctor, he was also concerned about Campbell's health.