http://www.ign.com/articles/2012/12/07/bioshock-vita-could-still-happen
He only had an idea for the game but never actually started development on it. He also said the game is out of his hands right now and it's really the business people(executives) who will make the decision if they make the game. Straight from the creator of the franchise:
"That is in the hands of business people right now. Its something Im still interested in, and people ask me that all the time. Right now Im just sort of waiting to see what the business people come up with, and thats sort of out of my hands at this point. Thats something that I think has a lot of potential. The game idea we have has a lot of potential. Its just a question of [if] their stars all align."
Wow and I almost bought a Vita for this : (
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