NEW YORK – Martha Stewart said Wednesday she would seek to begin her five-month prison term as soon as possible, but will still pursue an appeal of her conviction for trying to obstruct a government investigation.

Speaking to a packed room at Martha Stewart Living Omnimedia’s headquarters, Stewart said she had submitted a letter to U.S. District Judge Miriam Goldman Cedarbaum asking her to lift the stay on her sentence.

“Although my lawyers remain very confident in the strength of my appeal – and will continue to pursue it on my behalf- I have decided to serve my sentence now because I want to put this nightmare behind me and get on with my life as soon as possible,” Stewart said.

The millionaire businesswoman said she didn’t know how long it would take the Bureau of Prisons to decide when she would begin serving her sentence. Stewart, 63, hopes to stay at a minimum-security prison in Danbury, Conn., that’s both nearest to her home and close to her 90-year-old mother.

Walter Dellinger, who is handling the appeal, said once the Bureau of Prisons makes it decision, Stewart would be ready to begin her sentence within 72 hours.

In March, a jury convicted her of obstruction of justice and lying to investigators regarding her sale of ImClone Systems stock in December 2001.

In July, Cedarbaum sentenced Stewart to five months in prison and five months of home confinement. The judge has allowed Stewart to remain free on appeal.

Throughout the six-week trial and even at her sentencing, Stewart said she would fight to clear her name.

On Wednesday, Stewart appeared to choke up as she said she hoped to begin serving her sentence in the next few weeks and could be out of jail by early next March.

“I must reclaim my good life, I must return to my good works,” she added. “I cannot bear this prolonged suffering while I await vindication.”

Stewart said she was sad to miss the holiday season and will miss her two dogs, seven cats, horses and even the chickens.

She also told a joke, telling reporters: “Despite what you might think, I do have a sense a humor.”

The domestic maven also said she was recently walking on Fifth Avenue in Manhattan when a group of male executives spotted her. “Oh, she’s out already,” they said, which drew laughter from the waiting press corps.

“I hope my time goes as fast as that,” she quipped.

Since word of the investigation into her stock sale came to light, shares of Martha Stewart Living have struggled. The shares changed hands at nearly $20 in June 2002, and they were up 61 cents to $11.75 in trading before Wednesday’s announcement.

Immediately after Stewart’s remarks, which were televised live, Martha Stewart Living shares shot up more than 12 percent, but they settled back down and closed up 12 cents to $11.26 Wednesday.

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Dellinger said attorneys for Peter Bacanovic, Stewart’s co-defendant, had asked for a 30-day extension, which was granted. Because of this, there is little chance an appellate court would hear Stewart’s appeal this year, he added.

“She needs to know when this period of disruption will conclude,” the attorney said.

Stewart has a very strong case for appeal, Dellinger repeated throughout the press conference. “I am convinced we have compelling issues for reversal.”

He expects to file the brief in Stewart’s appeal before Oct. 20.

Dellinger and various members of her appeals team also said they didn’t push Stewart to begin serving her prison sentence. Stewart reached the decision on her own, according to Charles Koppelman, a director for Martha Stewart Living.

Stewart’s attorneys have asked Judge Cedarbaum to ask the Bureau of Prisons to designate a prison for the high-profile executive. “We hope it would be within a week, could be several weeks,” Dellinger said.

Attorney David Chesnoff, who is also part of Stewart’s appeal team, added that there are currently no spaces available in Danbury. In the letter to Cedarbaum, Dellinger asked that Stewart be sent to a federal prison camp in Coleman, Fla. if Danbury is full.

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The Bureau of Prisons has yet to receive a notice from Cedarbaum lifting the stay on Stewart’s appeal, and no decision has been made on where Stewart will be placed. The designation process could take a few weeks, according to Carla Wilson, a spokeswoman for the bureau.

“Most of our institutions are crowded,” said Wilson, who declined to say whether Danbury is full.

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Stewart’s decision did not come as a shock. In a televised interview with “20/20” after her sentencing, Stewart said she was considering serving her prison time.

“This case ended in a way that is vintage Martha Stewart,” said Robert Mintz, of McCarter & English. “It is purely a business decision where she put aside her own personal circumstance and any legal judgment as to the perceived strength of her appeal.”

It is possible for Stewart to serve her time in jail and later have the appeals court find grounds for reversal. In that scenario, federal prosecutors would have to decide whether to devote precious resources to retrying Stewart.

However, the most likely outcome is that the appeals court upholds Stewart’s conviction, Mintz added.

“Stewart is serving time strictly to save the company,” he added. “Should the court of appeals reverse, there would still be some measure of redemption.”

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