Not to be confused with Spelunky on XBLA, which Ashley told you about the other day. That's an indie game by Derek Yu. Spelunker is the classic Irem title, possibly best remembered for its theme song, which was playable in at least one version of Taiko no Tatsujin if it wasn't already etched into your brain from the original NES game.
Spelunker is on its way to PSN, having been given the standard treatment with revamped HD graphics and a bumpin' version of its original music. This version will also feature 6-player online co-op, and can be played with either the shiny new visuals or its classic 8-bit look.
Interestingly, the game also boasts a platinum trophy, which is unusual for a digital PSN title. Tozai will be bringing Spelunker HD to the US soon, and It'll already be playable at the company's PAX booth if you want to get in some early playtime with it.