As it turns out, right after the announcement and playable demo of Street Fighter X Tekken at Capcom's Comic-Con Panel, Namco's Katsuhiro Harada followed suit with his own confirmation that Tekken X Street Fighter is indeed in development. Fighting game fans now have not only one game but two to look forward to.
While Street Fighter X Tekken will run on the Street Fighter IV engine, Namco's take on the crossover is rumoured to be built in the style of Tekken games where fights are held in a 3D arena. Capcom's Ono does say that the games won't see release any time soon and that Marvel Vs. Capcom 3 will have to satiate fans for the time being.
It'll definitely be interesting to see how Street Fighter characters fare in the 3rd dimension. Both games are being developed for the PlayStation 3 and Xbox 360.