While this is just a rumor, there is certainly enough reason to believe it to be true.  Epic’s president, Mike Capps, has already mentioned that a “shooter from Epic” will be hitting shelves Q1 2011, so this could be it.  Expect an official announcement at or near E3 with a potential trailer to accompany it.

"Microsoft’s keen to avoid a clash with Halo: Reach and wants Natal to own Christmas," alleges Edge’s source. "That’s why we won’t be seeing Gears Of War 3 until next year, but expect a major marketing push ahead of its release."

[Via Joystiq]