Truck doesn't start on first turn of key anymore

I have an 01 Silverado 5.3liter extended cab.
Outside having to replace all the brakes/rotors at 40k and have the transmission rebuilt at 55k its been a good truck. At 65k now.
In the past few weeks, when I turn the key (first time) the truck doesn't want to start, if i let it crank for awhile, it may. If I stop and try again right away, it fires up just fine.
Any thoughts from the mechanically inclined?
thanks.
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The fuel pressure regulator located on the fuel injection manufold was bad on mine. It uses vacuum to shut it off when the engine is off. They devolp a leak between the vac and fuel side causing the engine to get to much fuel or flooded startup. Its about a $70 part and about 10 minutes to R&R.
Zachary Mattson wrote:

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