MOSCOW, Jan. 15 -- Russian Prime Minister Dimitry Medvedev on Wednesday announced that his government will resign following President Putin's annual State of the Union address.

Speaking to President Vladimir Putin in a television address, Medvedev said that the president's Wednesday speech to the Federal Assembly outlined a number of "fundamental changes" to Russia's constitution.

"These changes, when they are adopted, and in all likelihood this would be done following discussions, as was said, will make significant changes not only to a number of articles of the Constitution, but also to the balance of power as a whole," Medvedev said.

Putin thanked Medvedev for his work, and urged the prime minister and the cabinet to remain at their posts until a new government could be formed.

Following the formation of the new government, Medvedev is expected to take up the new position of deputy chairman of Russia's Security Council, a consultative body which advises the president on national security affairs. Medvedev agreed to take up the new role.