Then get ready for some horror: Silicon knights (the makers of Eternal Darkness) had to lay off half their staff recently (sorry...too lazy to look for the source now). So the chances of a sequel are pretty slim.
When they made that game they had a lot less staff then they even have now, they had some Canadian hand out sometime after the MGS remake and they ended up hiring a ton of people. Even after the X-Men game bombed and they had to lay off staff they still have more now.
However it is slim that we'll see a sequel, its currently down to Nintendo. While Nintendo does need SK to say "ok" as they own half the rights, its Nintendo who so far hasn't asked for it to be made. SK have recently said that they wanted to do it.
Personally I'd rather a better developer get to it (imagine how amazing it would be if Retro did it? Really I want them to do a sequel after they get a chance to do a new IP), SK have taken years to make their last couple of games and both of those ended up to be pretty bad. The way SK are going if Nintendo ever wanted a sequel they'd be glad to let another dev do it just so they can get some funds for more crappy projects...especially since they've yet to receive that 2.5 million hand out they were award last year.