Setting variables in SQLCMD mode

Using SQL Server 2008 R2 Enterprise Edition Consider the following statement: :setvar source_server_name "SERVERNAME\INSTANCENAME" Is it possible in SQLCMD mode to get that value using TSQL Something like: :setvar source_server_name = SELECT @@servername Thank you **Update 7/15/2013** The two answers offered below did not quite give the desired result, so I'm adding a more relevant exampe. :setvar source_server_name [myserver] The variable source_server_name is set to the text string [myserver_1] I'd like to be able to do this: create table #tmp( id int identity(1,1), server sysname ) insert into #tmp values('myserver_1'),('myserver_2'); :setvar source_server_name = SELECT server FROM #tmp WHERE id = 1 select '$(source_server_name)' (No column name) myserver_1 The variable source_server_name would be set to the value in server for id 1.