The White House said earlier this month the president would "carefully review" the requests put forth by immigrant advocates and members of Congress.
Opponents of legal and illegal immigration have warned, however, that such a move could cost the president politically.
"I think the president would be handing a tremendous political victory to his opponents for next year's election if he took some administrative action," said Roy Beck, president of Numbers USA, a group that seeks greater immigration restrictions. "Then, it won't just be about immigration, it will be about abuse of executive power.
"He knows no amnesty has any chance. They know it. But they are going around and wanting people to know that it's not his fault so that the pro-amnesty voters will come out and vote better than they did in 2010," Beck said of Obama's speech.
Noorani of the National Immigration Forum says Obama needs to take action to back up his words.
"I believe that they are having a serious conversation about what they can and should do," Noorani said. "But at the least, all these events Obama has been having put the burden on Republicans, and that's only a good thing."
ABC News' Sunlen Miller contributed to this report.