I doubt it will ever Happen. As the paster above said, it is not solely down to Sony, however, if MS did integrate a Blu-Ray player into the Xbox360, it would be a gold mine for Sony in terms of revenue from Blu-Ray as suddenly, a massive install base of people with Xbox360s will be getting cheap blu-ray players too. Also, MS doesn't really have a strategy of peaceful coexistance within a market, their strategy in every product line has always been to dominate and drive out all competition. By putting Blu-Ray into an Xbox360, they would effectively be ratifying the superiority of Sony's technology over their own.
Conversely, it would be an incredibly smart marketing move since, with the financial advantage MS has, if they could integrate Blu-Ray players into an Xbox360 and sell them cheaper than a PS3, then they would be removing that whole selling point that the PS3 has as the cheapest good Blu-Ray player. This would also be a reason for Sony to not back a bid for MS to integrate Blu-Ray technology into the Xbox 360.
I would also like to point out that MS has already stated that their idea of the next generation format is digital distribution, not removable disc media and have already gone a long distance in investing in their Xbox Live video distribution. By adopting Blu-Ray, they would be increasing the lifespan of it by a good amount thereby delaying the digital distribution age further.
Lastly, Sony has been producing Blu-Ray discs for a long time and the difference in manufacturing costs for them has halved over the time spent. I severly doubt they would divulge their manufacturing information on how to make the process cheaper for MS which would be a new entrant into the field of Blu-Ray just in case MS find a way to undercut the PS3 as a Blu-Ray player.
IN CONCLUSION (for those who saw this long post and cba to read it all)
IT IS VERY DOUBTFUL THE XBOX 360 WILL HAVE A BLU-RAY ADDON OR HAVE IT INTEGRATED
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