http://www.sonyinsider.com/2009/08/05/sony-finalizes-backwards-compatible-memory-stick-xc-with-2tb-maximum-capacity/ 

Sony has finalized specifications of Memory Stick XC, which was also known back during CES 2009 as “Memory Stick Format Series for Extended High Capacity.” At that time, Sony had mentioned that this new Memory Stick would have 2TB maximum capacity, but details were rather scarce. A new page on Sony’s oss-formats.orgwebsite has listed all of the details for the Memory Stick XC, which is really exciting especially considering that the form factor for these new flash cards are (on paper) the same as pre-existing memory sticks, which means that these high capacity juggernauts are most likely backwards compatible. The entire cast and crew are back, including Duo, Micro, and the HG variants. Additionally, the XC series also uses the much more efficient exFAT file system, while the PRO series uses FAT12/16/32. The 2TB Memory Stick Duo picture used in this story is a photoshop by yours truly, but this won’t be much different than the real thing. License agreements for the Memory Stick XC are now available to interested hardware manufacturers.

Update: There seems to be some confusion amongst the Internet about this story. A 2 TB maximum capacity doesn’t mean that you will see a 2 TB Memory Stick XC next year. That is probably years away – however, it does open the door for 64GB, 128GB, etc; a natural progression to the 2 TB limit is to be expected.

The new nomenclature (to further confuse consumers):

• Memory Stick XC Duo
• Memory Stick XC-HG Duo
• Memory Stick XC Micro (M2 XC)
• Memory Stick XC-HG Micro (M2 XC-HG)

For the Spec click the link.

OMFG I WANT!!!!! I would never have to worry about running out of space for my PSP ever again.

PSP-2000 cough cough

Yea, that's what I thought first -_-

Wonder how they'l be priced?

i hope its priced less then the psp go

This is why DD still helps Sony even if they lose some sales from Brick and Mortar Stores.

Probability this happens: -0.2%.

Ya, I expect at minimum a $2000 price tag.

^ Lol, If they cost that much and I bought one, I'd be shit scared of losing it, and they're easy to lose ;)

tech prices on any memory storage device drops incredibly quick so the price wouldn't be $2k for more than 4 months. Afterwards it would probably drop to $1K then continue downwards.