When pressed by Joystiq as to who owns the Mass Effect IP he responded, "EA owns the rights to Mass Effect". Further pressing confirmed that there is currently no exclusivity contract between EA and Microsoft regarding the Mass Effect.

Given Bioware's excitement developing Dragon Age: Origins for the PS3 and the untapped audience of Playstation consumers that would buy into Mass Effect, it's looking like a PS3 version may happen at some point in the future.