http://www.joystiq.com/2011/08/18/playstation-vita-has-more-ram-than-ps3-hey-cross-game-chat/
Yep, the total is about 640Mb. 512Mb for the main memory, and 128 of V-RAM. I wouldn't of guessed it had more, though. Based on current screen-shots of Vita games, it doesn't look to have as high of resolution textures compared to PS3 games. Still, I'm guessing that extra RAM is just going to be used for cross-game voice chat, and can't actually be used for higher texture resolutions. Kinda disappointing if that's true, but it still looks to be one heck of a machine.
I don't know why people tell me to get a life. I'm a gamer, I have lots of lives!