Famitsu magazine confirmed that the No More Heroes franchise is heading to PlayStation 3 and X-box 360 in some form. Nothing is known about the title as or right now minus the name of the game which translates to No More Heroes: Hero’s Paradise.
Suda 51 said awhile back that the No More Heroes franchise would stay Wii focused in his mind. If it is a port of the original No More Heroes it could be that Marvelous Entertainment decided to give the okay for a PS3/360 port. Marvelous Entertainment in the past has expressed having difficulty selling Wii software and that they were possibly looking into moving to PlayStation 3 and 360 development as well, so I wouldn’t be surprised if this is the start of that.
Update: Oh, that was fast. It sounds like the game is a port and will be adding a new mode called “Advance mode” and will include Japanese voice acting. Japanese preorder bonuses include two erotic portraits, one for PS3 and one for 360 (Source: Neogaf)