That's where we stand as we find out that a mysterious Motorola tablet has hit the FCC. We kind of want the Xoom 2 to come and erase the disappointing launch of the original Xoom (and therefore the Android tablet ecosystem overall). We want it so much that we're even trying to make an unidentified tablet in a promo to be the Xoom 2. Even the price drop of the Xoom seems like an indication of a new model on the way. Unfortunately, it seems far more likely that both are simply the Xoom LTE.
The change in size and the promo video make it seem as though it could be the Xoom 2. But, it could simply be a slight redesign of the Xoom (to make it more friendly to hold), and a new marketing push for the LTE Xoom. In a way, that might be better than a full release of the Xoom 2, because it would be far better to see the Xoom 2 launch in the fall with a slimmer frame, a quad-core CPU and Ice Cream Sandwich, than it would be to have it launch now and likely be not much more than a slightly redesigned Xoom anyway.
source: Wireless Goodness