The London Times: Time for answers from the question master
Silicon.com: Google CEO: "An IPO is not on my agenda"

The Times Online reports Eric Schmidt commented to a group of business leaders that an IPO is not on his agenda right now. Of course no one knows exactly how far out Eric plans his agendas. Because Google has the flexibility to take its time on the IPO, they will likely time it based on many factors, with the state of the market as only one of the variables.