Indianapolis Star political reporter Tony Cook also confirmed the news.
— Tony Cook (@indystartony) July 14, 2016
The news comes ahead of the official announcement from Trump expected at 11 a.m. Friday in Manhattan.
Pence, who has been running for re-election against Democratic challenger John Gregg, must withdraw his name from the gubernatorial race by noon Friday. The Indiana Republican Party will then choose another Republican to run against Gregg.
Pence and Trump appeared together at a rally in Westfield on Tuesday night.
“I don’t know whether he’s going to be your governor, your voice president. Who the hell knows?!” Trump said at the rally.
Pence endorsed Ted Cruz in Indiana’s primary, but at the same time went out of his way to commend Trump “for his voice in the national debate.” Cruz dropped out of the race the night of the primary after Trump won the vast majority of GOP Hoosier votes.
Since then, Pence has been supportive of Trump.
“You know Donald Trump understands the frustrations and the hopes of the American people like no other American leader in my lifetime since Ronald Reagan,” Pence said of Trump on Tuesday night. “We are ready for Donald Trump!”