Sony doesn't look like it's ever going to resurrect Jet Moto. And Microsoft owns Hydro Thunder — yes, technically not a jet-ski game we know.
Looks like the closest we're going to get to some jet-ski action is in PlayStation Home, as Sony's just announced its latest location: Southern Island Hideaway. The space has been developed by Granzella, a studio made up of a bunch of former Irem guys. And it includes a four-player jet-ski game. There's also some under-ocean treasure hunting and more. We'll check it out and maybe write up a short report, as we're suckers for any water-based racing games.
(WaterStorm next please, Evolution?)
You can catch up on the full PlayStation Home update through here.