Its being published by 2K games, and developed by Firaxis Games (makers of Sid Meier's games from '97 onward).

Here's a link to screenies:

and the official news release from the developers:

It looks nice, atleast. The only troubling thing to me is the hex grid in the combat shot. It looks like they just smacked combat into their Civilization engine... the grid looks huge as if the player doesn't actively decide whether or not an operative is behind cover but that its rather determined by the contents of that huge hex cell...

Anyway, there hasn't been a professionally developed X-COM in the same vein as the original since... well, the original! So I can't wait! Oooohhh!!