Um, Volcano?

Way back in the ancient history of LOST we were told of how the volcano was going to play a seismic (possible pun) role in LOST. We have seen three episodes of S5 and seen neither hide nor hair of the promised volcano. I was really looking forward to it, and thought that with the producers had been foreshwdoing the volcano through Jacobs ash and Annie's question. I guess not. If the volcano was going to be big then why have we not seen it, or heard present day characters talking about it, with only a little more than 30 episodes left?