Aides to Virginia Governor Bob McDonnell are vigorously denying a story, originally reported by a respected Virginia blogger, that McDonnell is close to signing a plea deal with prosecutors that includes his resignation as governor.

The site Bearing Drift had the story on Saturday evening, later confirmed by Breitbart and PJ Media's J. Christian Adams, who cites government sources.

Brietbart gives details of McDonnell's troubles:

McDonnell has come under fire for potentially having violated the state's ethics laws by not reporting a Rolex watch valued at around $6,000 when laws require him to report any gift valued over $50. McDonnell's office has claimed the gift was from a "personal friend" and thus not in violation of the state's ethics laws.

Bearing Drift, one of the most respected and indispensable sites on Virginia politics, reported on Saturday night that two independent sources said McDonnell is "currently in the middle of finalizing a plea agreement which includes his resignation as governor." Bearing Drift also reported "multiple more sources confirming plea agreement is definitely being finalized."

Sources also independently confirmed to JHPolitics on Saturday night that Bearing Drift's story was accurate. Like Bearing Drift, JHPolitics provides extensive coverage of Virginia politics.

Because Bearing Drift has considerable influence in the Commonwealth, the blog post did not go unnoticed by reporters and political observers or unanswered by the McDonnell camp.

McDonnell communications director J. Tucker Martin repeatedly insisted on Saturday and Sunday to state and national reporters--and on Twitter--that reports of McDonnell's impending resignation were false. Martin told Breitbart News that the Governor's office hasn't issued, or plans to issue, any formal statement on the matter. He said the office became aware of the reports and reiterated that they are "false."

Adams has extensive contacts in the Justice Department, having been an attorney in the civil rights division. They tell him that the FBI has McDonnell dead to rights. 

It seems probable that no plea deal has been inked yet, but that Governor McDonnell is on his way out and possibly headed for jail.