Most people seem to think it's pretty much a confirmed PS3 exclusive but that isn't the case. I think a lot of that has to do with an article Next Generation did about the game in which they reported that Famitsu confirmed it as an PS3 exclusive (they never did).
Now here's why I think it's coming to 360:
1) Famitsu 360 has hinted that it is. They may be just playing with 360 fans but it's still interesting either way.
2) Recent job postings seem to hint that Tri-Ace is looking for 360 programmers for two different games. Since only one game has been confirmed from them (Infinite Undiscovery) there's a chance that the other is Star Ocean 4 (it's not like Ti-Ace would have many games in development).
3) The recent deal that Microsoft made with Square Enix concerning Infinite Undiscovery. It's either Microsoft being extremely generous with Square Enix by funding Infinite Undiscovery and allowing Square Enix to become the publisher and reap profits from it or it could be that Microsoft offered up Infinite Undiscovery to Square Enix in exchange for them making a 360 version of Star Ocean 4 (to go along with a PS3 version).
Anyways I'm curious to see what others think. :)