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brute said:

Square Enix is too big and also it wouldnt make sense for Sony to purchase them when Square releases all its big games with Playstation as the main platform (except maybe DQ but we'll see what the future holds for that).
Xbox has no benefits whatsoever from Square Enix.

Also doesnt Kojima Productions have an upcoming game/deal with Microsoft? I recall hearing something on that around E3.

Sometimes acquisitions take place just to make sure a competitor can't buy the company out from under you.  In a case like that, it could make sense for Sony to buy Square Enix.  But, I doubt we'll see Sony making an acquisition of that size.  It wouldn't surprise me if Microsoft did it though.