Yep, that's right.

At E3, Square Enix confirmed the next FFVII entry, although this time it's not a major title. They are basing this game on the popular motorbike chase minigame found in both the story and the Gold Saucer of FFVII.

In my opinion it looks like tons of fun! It's been a good deal of years since the FFVII compilation went on a break and not only does this game have potential and room for growth (new characters, areas etc), but it has already been said that the reception of this game might affect whether more games will be made. In other words, there is a chance for the compilation to burst open like it did back when Advent Children started the FFVII evolution boom.

Read about it here, and watch the trailer too!

Linky