There have been rumours of a sequel to 2004's adequate 'Alien vs Predator' film for quite some time now. It now seems that the wheels are in motion. According to Online Horror Magazine - Fangoria:

"ALIEN VS. PREDATOR: SURVIVAL OF THE FITTEST will begin shooting in Vancouver, British Columbia on September 23 and wrap December 14, Fango has learned. AVP’s Tom Woodruff Jr. and Alec Gillis of Amalgamated Dynamics, veterans of the first AVP (pictured) and all the previous ALIEN sequels, will encore on the creature FX. The Shane Salerno script places the battling extraterrestrials on U.S. soil (the Midwest); FX pros Colin and Greg Strauss make their feature directorial debuts on the December 21, 2007 Fox release."

I haven't read anything official about the plot outline yet, but I did find a brief snippet on bloody-disgusting.com:

"In this follow-up to the worldwide hit ALIEN VS. PREDATOR, the iconic monsters from two of the scariest film franchises ever, wage war in an American Midwestern town - with the residents caught in the middle."

An 'American Midwestern town'? This just doesn't sound like such a great setting for 'iconic monsters' to be doing battle. Are they going to carve up a Quik-E-Mart? Will the Predators engage in some Grand Theft Auto style drive by shootings on gangs of Aliens? Hopefully I'm proven wrong and it turns out to be a good movie and a vast improvement on the first 'versus' film, but to be honest, I'm not holding out much hope. If this is a stinker, I think that Predator and Alien nerds like me can kiss goodbye the idea that Predator 3 or Alien 5 will ever see the light of day.