GameGuru estimates an announcement will be made next year sometime. With the long time-frame, it is safe to shelve this one strongly under the 'rumour' category, although with both Kotaku and IGN reporting on this one, and the recent Bungie/Microsoft split rumour turning out to be correct, anything could happen.
UPDATE: GamesIndustry.biz contacted Rare over the story, and received the following response from Lee Schuneman, head of production: "There's always rumours going around about different games we may or may not be doing but we'd prefer not to comment on rumours at this stage." While this is by no means an emphatic denial, it's also no confirmation. We would expect any announcement, if there is one, to be made once the latest Banjo Kazooie has been released.


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