The game is gone from both services in Europe because Ferrari: The Race Experience came out on PSN and apparently Ferarri's licensing deal means they get to remove the competition. It's still available for now on XBLA. If anyone is at all interested in picking this up, you may want to do so soon, because there's no telling how long it will be available.

Update:

Sega has announced the following:

“Due to the expiry of the contract with Ferrari, Outrun Online Arcade will remain offline on PSN but will still be available on XBLA until Dec 2011.”

Oh dear, must purchase then.

That sucks but I see what that's happening.  What about Steam versions?

This game will be on sale next week, between Nov. 22 and 29 for 400 msp. This may be your last chance to play the game as it's being removed from the service next month.