It was spotted on Korean ratings board and being published by Microsoft. The ratings board is in Korean but with Google Translate you can read all about it.

http://www.grb.or.kr/Statistics/Popup/Pop_StatisticsDetails.aspx?app=41850&type=00

Announcement trailer:
 
http://www.youtube.com/watch?v=6V30amrVl4U

Source

Hello Games has revealed to Eurogamer that Joe Danger: Special Edition is indeed coming to the Xbox Live Arcade as previously rumoured, bringing a host of additional content over the PSN version, including new environments, new characters and new gameplay modes, including a new Challenge Mode called 'The Laboratory'.

"We're really excited about coming to XBLA," said Hello Games' Sean Murray. "For a start my brother is finally going to be able to play Joe Danger. Well, knowing him he'll probably just download the Trial. It's going to be coming out real soon though, like surprisingly soon. We haven't rushed it or anything, it's just that we've been keeping it super secret."

Joe Danger is a game in which you play as a portly little stunt biker, like a cartoon Evel Knievel, and although it was incredibly well-received on the PlayStation Network in 2010, Hello Games has seen room for improvement and expansion in the Special Edition on XBLA.

"Like Joe Danger was well received and everything, but my god there were things we didn't like about it. There were places where it was actually pretty frustrating or confusing to play, and I really think we've ironed that out," Murray stated, adding that there's "a lot of new content" which could take almost 30 hours to complete 100 percent. "I think that would be minimum. It's just huge now," he said.

Joe Danger: Special Edition will be coming to the Xbox Live Arcade this holiday 2011 for an as yet unspecified price.

Pretty neat if you haven't played it yet and don't own a PS3. What's weird about this news however is that it goes against that quote from some MS rep that went along the lines of "We don't put up games on XBLA if they've been previously exclusive to a competing platform". Wonder how they pulled it off, unless MS decided to be a bit less strict with those guidelines.

@L33tfella_H: Perhaps it's due to it being the special edition and will feature content not on other platforms, to technically the special edtion is exclusive to the Xbox kind of.