"The process is almost over," Alexander said, more than a month before the first party caucuses and primaries. "He earned my respect the old-fashioned way. He defeated me."

Alexander dropped from the race for the GOP presidential nomination in August after a poor showing in an Iowa straw poll. At the time he complained of a money-driven and front-loaded process.

There was none of that talk today as Alexander and Bush joined for a news conference to announce the endorsement.

"His performance has been steady, it has been solid, it has been presidential," Alexander said of the Texas governor.

In his unsuccessful bid for the GOP nomination, Alexander courted the same mainstream GOP voters that Bush seeks. He found his ability to raise money diminished after Bush entered the race, and the poor straw poll showing dried up his money even further.

Today, Alexander repeatedly referred to Bush as "steady," and he was asked if he would say the same about Arizona Sen. John McCain, who has faced questions about his temperament. Alexander declined to address that issue, saying his appearance was aimed at talking about Bush and not his rivals.

"I think he's ready for the presidency," Alexander said of Bush. "I'm convinced he can win, I'm convinced he can lead."