Even though DirectX 10 is somewhat of a commercial failure, party due to the poor adoption of Vista and the even poorer adoption of game developers to re-write their game engines to support it, Microsoft have already announced that DirectX 11 will be unveiled at annual XNA Gamesfest.

If you didn't know, DirectX 10 was initially a Vista only gaming API, and only a handful of game studios bothered to offer a DX10 experience for their games, for what was essentially just marginally better graphics at the cost of performance. Call of Juarez and Crysis are a couple that come to mind.

Source.