In a live demo of Iron Brigade(A Game About Love) on this week's Giant Bomb's Thursday Night Throwdown (1:54:00), Brad Muir of Double Fine let slip that they'd totally be on board for Psychonauts2 if a big sack of money was dropped on an unspecified table.
When asked in a chat question about game pitches that got shot down, Brad declined to comment on the issue. However, he had this to say:
"If somebody wants to have all the money and come talk to us and be like, 'Hey, why don't you make Psychonauts 2?' and they drop a bag of money on a table...DUDE WE'RE DOING IT."
Microsoft doesn't comment on rumors and speculation.