A recent job listing hints at the possibility.
Retro Studios looking to hire several people, according to a recent job listing posted on Gamasutra.
The Austin, Texas-based company is looking to fill the following staff positions:
4/14/2011 Software Engineer (Level 2 or 3)
4/14/2011 Software Engineer (Level 1)
4/14/2011 Graphics/UI Artist
4/14/2011 Game Designer
4/14/2011 Design Manager
4/14/2011 Technical Artist
4/14/2011 Artist - Retro Studios
No specific game title or console is mentioned, but the set of positions hints that the company is gearing up for a new title.
Retro Studios recently worked on Donkey Kong Country Returns, released in November of 2010. The development studio is also known for creating the Metroid Prime series of games.