Sega has announced that it is currently working on a version of its arcade brawler for the Xbox in Japan. It will be called Spike Out X-treme. The game is currently being developed at Amusement Vision, and it will support online play through the Xbox Live service. Sega says that the original Spike Out, which was released in 1998, is still an incredibly popular game and that the Xbox is the most adequately equipped to handle a faithful console port.
An official release date has not been announced. We'll have more details on Spike Out X-treme as they become available.