I don't think so due to the poor sales of Shenmue II on Xbox. But if it did come out hopefully it would intrest some more gamers and give Shenmue a bit more hope.
They haven't stopped it yet and they've managed to port games that sold worse than Shenmue. I don't see it being impossible. But the sheer size of the game would make it pretty hard to check that the game works properly.
lol i love how people come in here and say "No Never" and provide no reason why they think this. I doubt the sales from these games has anything to do if they get put on 360, last I checked Kabuki Warriors wasnt a big hit.