We all know that LIPS was a huge runaway success that brought the casual crowd to Microsoft, draining the Wii of its fanbase and driving Nintendo into bankruptcy. Based upon that interstellar smash hit, it's hardly surprising that Microsoft wants to recapture the magic with a sequel, and some fresh intel may hint at it coming soon.
The Royalty Network is a site that catalogs licensing and royalty deals in the music industry, and it has recently mentioned a videogame called Lips Uno. The only other information is that the game is licensing Timberland's "The Way I Are." Judging by the stupidity of that song title, it would appear as if Lips Uno is following its predecessor and attempting to cater to the retard demographic.
Bear in mind that no mention has been made of a developer, publisher or platform. The Royalty Network couldn't give a stuff about all those details. However, since it bears the LIPS name, it looks like a pretty safe bet that the Xbox 360's SingStar wannabe is back.
There will be much rejoicing, I'm sure.