Samsung promised to update the S II to Android 4.2 (and possibly even Android 5.0), but it has run into “adjustment problems with TouchWiz”, so chances are it won’t be able to deliver on that promise.
Let’s be realistic, though. Android 4.2 is a relatively minor update, and getting 4.1 Jelly Bean on the now two-year old Galaxy S II already seemed like a threat (in the context of Android).
Interestingly, the original 5.3-inch Samsung Galaxy Note is also based on the same hardware so while nothing has been said about its update path, it seems likely that it is also off the list for 4.2 Jelly Bean. The more powerful Samsung Galaxy S II Plus is still said to be getting bumped up to 4.2.
source: Connect.de via SamMobile