Square Enix has announced Final Fantasy XIII-2 at its Production Development Premiere Event and it will release simultaneously for Xbox 360 and Playstation 3 in 2011. Motomu Toriyama will be directing again as well as Yoshinori Kitase who will serve as producer.
Toriyama stated that fans were clamoring for a sequel and the FFXIII development staff wanted to showcase a new dramatic story with Lightning. A short trailer was shown at the event that depicted Lightning in armor fighting against a new enemy.
Source: Andriasang, 4Gamer