( CNN ) -- Sen. Evan Bayh , D-Indiana , said Monday afternoon that he wo n't seek a third term in the Senate -- a major blow to Democrats worried about losses in the midterm elections . `` Congress is not operating as it should , '' Bayh said at a news conference in Indianapolis , adding there 's too much partisanship and `` the people 's business is not getting done . '' Bayh said he loves public service but does `` not love Congress '' and is `` not motivated by strident partisanship or ideology . '' He cited the Senate 's recent failure to pass a jobs bill and legislation that would have created a deficit reduction commission as evidence of what he characterized as a broken political system . President Obama released a statement praising Bayh for devoting `` his career and his life to serving his fellow Hoosiers . '' Bayh , a former two-term governor , was first elected to the Senate in 1998 , taking 62 percent of the vote . He won re-election with 64 percent six years later . In his two terms in the Senate , Bayh cut a centrist path and worked across party lines , which at times frustrated liberal Democrats . `` He hates the Senate , hates the left bloggers , '' a friend and longtime adviser to Bayh said . `` They are getting their wish , pure Democrats in the minority . '' While Bayh had been mulling retiring for a `` good part of last year , '' he made his final decision not to seek re-election Friday , said another source , who spoke on the condition of anonymity . Bayh was scheduled to appear Sunday on CNN 's `` State of the Union With Candy Crowley , '' but his office canceled the appearance late Friday afternoon . Bayh is the third Democratic senator to announce he is retiring when the curtain drops on the 111th Congress . Sens . Christopher Dodd of Connecticut and Byron Dorgan of North Dakota previously said they would not seek re-election . Democrats will have to defend five open seats in November , as Roland Burris of Illinois and Ted Kaufman of Delaware have said they will not run for their own six-year terms . Burris was appointed to Obama 's former Senate seat , while Kaufman was appointed to Vice President Joe Biden 's old seat . Meanwhile , Republicans will be forced to defend six seats in the midterm elections . Sens . Judd Gregg of New Hampshire , Kit Bond of Missouri , Jim Bunning of Kentucky , George Voinovich of Ohio and Sam Brownback of Kansas are all retiring at the end of the year . Sen. George LeMieux of Florida -- who replaced Sen. Mel Martinez after he resigned before the end of his term -- also will vacate his seat . Former Republican Sen. Dan Coats recently announced a bid to challenge Bayh this year . Coats served from 1989 to 1999 but chose not to run for re-election . Bayh won that contest . Former Rep. John Hostettler and state Sen. Marlin Stutzman also are bidding for the GOP Senate nomination in Indiana . Bayh probably would have faced a difficult re-election due to the anti-incumbent political climate , but an Indianapolis Star/WTHR poll conducted in November indicated that 61 percent of Indiana voters approved of the job the senator he was doing , with 24 percent disapproving . Bayh also had nearly $ 13 million in his campaign war chest . He seemed to face the same frustration many former governors experience when they are elected to the Senate . Instead of being able to make singular decisions , they find themselves members of a slow-moving legislative body where political lines are dug deep . `` I 'm an executive at heart , '' Bayh said . `` I value my independence . I 'm not motivated by strident partisanship or ideology . These traits may be useful in many walks of life , but they are not highly valued in Congress . '' A source noted that Bayh is unclear about what his next step might be but said he would entertain the idea of becoming a university president , running a private business or heading up a charitable endeavor . Another source added that Bayh could consider another bid for Indiana governor . A White House source confirmed Bayh discussed his retirement with Obama well before announcing the decision . However , a Democratic Party source said Bayh 's announcement took national Democrats by surprise . The source added that Democratic Reps. Baron Hill and Brad Ellsworth and Evansville , Indiana , Mayor Jonathan Weinzapfel all may consider making bids for the Democratic Senate nomination . `` I appreciate the support of those Hoosiers who have already encouraged me to run for Sen. Bayh 's seat , '' Ellsworth said in a statement . `` The next step will be taking a few days to talk to my wife and to folks in Indiana about where I can best serve our state . '' The deadline for a candidate to submit the required number of signatures to have his or her name placed on the Indiana primary ballot is noon Tuesday . But if no candidate meets that goal -- and no Democrat is expected to do so -- then the Indiana Democratic Party will be able to choose its nominee . Bayh , a centrist Democrat , reportedly was considered a possible running mate for Obama in 2008 . Bayh 's father , Birch , served three terms in Senate . CNN 's Gloria Borger , Candy Crowley , John King , Mark Preston , Alan Silverleib , Paul Steinhauser , Deirdre Walsh and Jessica Yellin contributed to this report .
NEW : President praises Jonathan Weinzapfel for devoting `` his career and his life to serving his fellow Hoosiers '' Senator cites failure on jobs bill , deficit reduction panel as examples of broken system . Florida centrist is third Democrats senator to announce retirement . Democrats must defend six open seats in midterm races ; Bayh will have six open seats .