TechCrunch is reporting this evening that a deal between Google and Yelp is “80% likely” to happen. Rumored to be in the ballpark of $500M or more, the acquisition could be a huge gain for Google Maps and Android. Meshing Yelp’s crowd-sourced business directory together with Google’s Favorite Places could create a powerful tool for those on the go.  Yelp has over 5 years worth of user data and business information compiled which would certainly go a long way towards Google’s mobile experience.

It was announced back in September that Google is ready to start making both big and small purchases. Yelp is said to be expecting revenues of around $30 million this year and forecasting $50 million in 2010.