The estimated price tag for security for the 2010 Olympic Winter Games in Vancouver has ballooned from $175 million to about $1 billion according to reports -- and Public Safety Minister Peter Van Loan is not denying them.

Van Loan told CTV's Power Play with Tom Clark that negotiations are underway on how the cost of security for the Games will be shared between the federal and provincial governments. Until then, he said he can't confirm the actual final figure but said he will be able to "soon."

"No one will be surprised," Van Loan said of the security costs in light of the recent reports.

Van Loan said the main priority is making the Games secure, not keeping the security budget to a certain number.

"We have the Games happening, (it is) important for Canada that they happen in a safe fashion and we're going to deliver that," he said Thursday.

"The test is, what do you need to do insure that the Games are secure, so that people can have a good celebration and people aren't remembering security issues."

Protecting the Games from disruptive protestors or a terror attack is going to be a massive undertaking, with about 12,000 police, security and military personnel expected to be in Vancouver.

Van Loan noted that the original $175 million figure "did not involve the government in any way" and was prepared by Olympic organizers.

"I don't know how that number ($175 million) was arrived at but everyone knows that number is not a realistic number," he said.

The RCMP are leading security efforts for the Games, but it is not known how much of their costs will come of their own budget.