TIME magazine’s Mark Halperin (pictured, via) and New York‘s John Heilemann‘s bestselling behind-the-scenes look at the 2008 election, Game Change, will reportedly have a $5 million sequel.

Yesterday Crain’s New York reported that Penguin Press publisher Ann Godoff and literary agents Andrew Wylie and Scott Moyers negotiated a $5 million deal for a book about the 2012 election from the bestselling authors. With memoirists Sarah Palin and Barack Obama running around in 2012, it should be a literary election season.

Here’s more from the article: “‘This is presidential memoir level money,’ said one executive familiar with the deal… [it] harks back to a period before the recession ate into book sales and put pressure on houses to hold down costs. But the giant price tag is also representative of a trend among publishers toward making bigger bets on known commodities.”