Yes, it’s happening: During Capcom’s Super Street Fighter 4 panel at Comic-Con today, a trailer was shown off for Street Fighter X Tekken for PS3 and Xbox 360, the official name for the game pitting characters from two of the most popular fighting game series ever against each other for the first time.
The announcement came in what almost sounds like the promotion for an epic wrestling match — the proceedings of the panel were suddenly interrupted (very deliberately, of course) by producers of the Tekken series, and this was followed by a trailer that made the game official (we should have some footage up soon). Evidently SSF4 producer Yoshinori Ono first approached Tekken 6 producer Katsuhiro Harada about the idea, since Ono heard Harada was a Street Fighter fan.