Don't think so, I can't find anything anywhere about it. IGN would definitely have it listed if it was in development for XBLA. I had high hopes of the PSP one, but it wasn't so good...
I was reading that it was coming out in Japan Marketplace for sure but no word when it'll be out in other regions just yet. You can even use your Avatars too. Just google it and you should find the info. I saw pics of it on kotaku.com I think.
AHHH I WOULD DEFINITELY LOVE IT WHEN THE CUTE BUBBLE BOBBLE COMES ON ARCADE . I REMEMBER BEATING MY BRO AT ARCADES IN THIS GAME . PLAYING WITH BOB AND UNLEASHING BUBBLES ALL OVER HIS SIDE DOESNT GET OLD ........
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