In terms of consoles? Not going to happen..Sony will not drop the PlayStation name, and MS is too proud to adopt it if they did shack up.
Also...EA won't make their own console, and if they did, they wouldn't be stupid enough to keep their games exclusive. It would cause them to go bankrupt, and that would destroy everything they've been trying to do the past few years.
Also also...I have a PS3 and a 360. While I don't hate XBL, I'd REALLY prefer to keep it away from any of my PS3 features (Home). The 360 is bearable, but the PS3 interface suits my preferences much better.
Also also ALSO!...Microsoft's current track record indicates that they couldn't stand to put out such a quality product as SONY is used to doing..a squabble would ensue..