Don't you mean Sly 4? Sly 3 was already on PS2. Anyway, I haven't heard anything about it, but Sucker Punch is busy with Infamous right now, so maybe after that.
As for Jak, who knows - it might be the secret project Naughty Dog is currently working on, but they haven't confirmed anything.
At the moment Sucker Punch is working on Infamous -- but could also create a new Sly Cooper game in the future. Naughty Dog is likely working on either a new Jak game OR Uncharted 2...
I hope that both studio's decide to expand and aim to become more like Insomnaic who have managed to keep Ratchet and Clank alive while creating the Resistance games.
I had read an article that stated that Sly Cooper 4 is still in the air. As far as Jak, it has been confirmed that Jak: Lost Frontier will be released but this might be after Uncharted 2.
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