Check out this summary from 2K’s press release:
Sadly, I haven’t had the privilege of playing through the X-COM series, but despite that I have a deep sense of wrong associated with this announcement. This recent Penny-Arcade comic comes to mind, as in it’s just not right messing with these sorts of things. Still, 2K Marin deserves the opportunity to make a great game, and X-COM has the fan base to become an instant classic if done right.
X-COM is an Xbox 360/PC exclusive, and will hopefully have a release date announced sometime soon.