NEW YORK — Ralph Lauren has his running shoes ready.

Lauren, chairman of the CFDA’s “Fashion Targets Breast Cancer” initiative, might be sticking around after the White House reception on Sept. 19 for a jog with President Clinton the next morning, according to sources.

If the run comes off, Ralph and the President will don the CFDA’s fund-raiser T-shirt and hit the pavement.

Clinton’s workout plans are very spur-of-the-moment, and a run with the designer isn’t a done deal yet, but Ralph had better stay limber: The runs are strenous — more than one gasping Congressman has lasted just long enough for the photo op before fading.