MONTREAL - Marc Garneau says he's considering a run for the leadership of the Liberal Party.

The Liberal MP Westmount-Ville-Marie told CTV Montreal he will wait to see which other candidates are in the running before making a decision.

"It's certainly something that's a possibility for me," Garneau said in an interview with Mutsumi Takahashi Tuesday. "I'm in politics not to sit on the sidelines... but it's a long way off."

Garneau said he hopes the race draws a big field of candidates from inside and outside the party's caucus.

He would be open to supporting a skilled young candidate who could renew the party, he said, or someone with a wealth of political experience.

Garneau was elected to the House of Commons in 2008 after a lengthy career outside politics.

He was the first Canadian in space and served as the president of the Canadian Space Agency from 2001 to 2006.

The next Liberal leader will face major challenges after a disastrous showing in the May 2 election.

"A whole series of things have made it such that we are no longer connecting with Canadians," Garneau said.

Garneau said the Liberals made the mistake of veering too far left on the political spectrum, making it difficult for voters to differentiate between his party and the NDP.

The Grits hold their biennial convention in mid-January in Ottawa, where delegates will decide the exact date in spring 2013 for electing their the party's next permanent leader.

Bob Rae is the party's interim leader.

Click on the video player on the right to watch the full interview