Obama was in the middle of a golf round in La Quinta, California, when news of Scalia's death broke.
White House Principal Deputy Press Secretary Eric Schultz also said to expect an additional reaction from the president on Sunday.
Scalia's passing could have massive political implications in an election year, with any nomination to the Supreme Court by President Obama required to be confirmed by the Senate.
Former President George W. Bush also reacted to the news in a statement today, sending his condolences to Scalia's wife Maureen, their nine children and the rest of Scalia's family.
"He was a towering figure and important judge on our Nation's highest court," Bush said in his statement. "He brought intellect, good judgment, and wit to the bench, and he will be missed by his colleagues and our country."