Yandex, the big Russian search engine, has delayed its much-anticipated IPO until next year, according to local reports. Earlier this year reports came out that Yandex was planning a US IPO and will seek to raise $1.5-$2 billion, at a total valuation of $5 billion. For 2007 Yandex’s revenue was up 130 percent to $167 million from $73 million in the year-ago period.

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The timeline was expected to be about late fall this year, but with the market conditions being what they are, it is now expected to be next year. All this while, the company hasn’t officially announced anything on the IPO.