In its 11 p.n. EDT Saturday update, the National Hurricane Center said Ivo was about 290 miles west of Cabo San Lucas and 300 miles south of Punta Eugenia, Mexico, with top sustained winds of 35 mph. The storm was moving north-northwest at 9 mph.
No coastal watches or warnings were in effect.
Forecasters said further weakening is expected Sunday and the tropical depression is expected to become a remnant low.