ST. PETERSBURG – In his last rehab stint on Saturday, Steve Karsay was clocked at 94 mph. Other than measuring his wide smile, there is no way to gauge how great Karsay feels these days.

The energized and enthused Yankee reliever popped in at Tropicana Field yesterday morning and predicted he could be done rehabbing his shoulder in as soon as two weeks.

“I will pitch again this year in the big leagues,” he said before the 7-6 loss to Tampa Bay. “I can finally see a light at the end of the tunnel – and that’s not a train on the other side. I’m getting excited.”

Karsay had rotator-cuff surgery on May 20, 2003, and has been rehabbing ever since. He worked two innings in an extended spring-training game in Tampa the other day, surprising himself with the velocity on his fastball. The 32-year-old had steadily progressed from 85 to 90 before the jump to 94.

“I wasn’t expecting that at all,” he said. “I knew it would creep up a little bit. . . . Velocity is not my main concern; it’s just how I really bounce back and feel.”

He said he felt fine yesterday and is tentatively scheduled to work tomorrow, Friday and Sunday. He’s slated to move from extended spring training to Class A Tampa on Friday, barring any setbacks.

“It’s a good scenario right now for me,” Karsay said. “I’ve waited this long, and a couple more weeks isn’t going to kill me.”

Joe Torre wants Karsay to work back-to-back days before pronouncing him ready for New York but was quick to point out, “This is a giant step.”

About six weeks ago, Karsay suffered a setback in which he was scratched from a bullpen session because he couldn’t get loose. At the time, Torre said he didn’t think Karsay would be back in 2004. But Karsay took four days off from throwing and has been feeling good ever since.

“No rhyme or reason, I have no idea why,” Karsay said. “I’ve always believed that at some point you’ve got to have a setback to get to the point where you need to be.”