Update: Pettitte "has committed to playing next year," a source said. No deal has been reached yet, however.
The left-handed pitcher has already committed to coming back to pitch in 2013, as the tweets states. It appears as though Pettite signing is a formality at this point, and that he will pitch for the Yankees in 2013.
Pettite signed a 1-year $2.5 million deal with the Yankees before the 2012 season. The 40-year old did not pitch in 2011, but made a comeback to pitch for the Yankees. He has been flirting with retirement recently, but decided to return to play in 2013.
Pettite posted an ERA of 2.87 in 75 1/3 innings this past season, with those innings spanning 12 starts. He missed time last season with a broken ankle.