Pete Yost and John Solomon have the story for the AP.

The federal grand jury investigating the leak of a CIA officer's identity met for three hours Wednesday with Special Counsel Patrick Fitzgerald and his deputies, adjourning for the day without announcing any action.

Fitzgerald is known to be putting the finishing touches on a two-year criminal probe that has ensnared President Bush's top political adviser Karl Rove and Vice President Dick Cheney's chief of staff I. Lewis Libby.

There was no word on whether Fitzgerald planned to make any announcement or when the grand jury planned to meet again.

[Update 11:18 AM Pacific]: Jason Leopold and John Byrne report for The Raw Story (note the source) that Fitzgerald asked the grand jury "to indict Vice President Dick Cheney’s chief of staff I. Lewis 'Scooter' Libby and Bush’s Deputy Chief of Staff Karl Rove on charges of perjury and obstruction of justice." Further, they write, "Rove declined to plead guilty to the reduced charge, the sources said, indicating through his attorney Robert Luskin that he intended to fight the charges."

[Update 11:26 AM Pacific]: From CNN:

Several experts told CNN it is possible the grand jury on Wednesday still could consider the question of indictments and if it votes to return one or more, the indictments could remain under seal and made public later.

These experts also said it is possible the grand jury could consider indictments later this week, or that no charges will be brought.

It is also possible Fitzgerald will let this grand jury term end and take his case to a new panel.

More to come on the story as it breaks...