Elite Beat Agents Team Working on Lips?

It looks like that Xbox 360 game that Elite Beat Agent dev iNiS said they were working on is likely rumored and then leaked karaoke title Lips.

Joystiq writes that an anonymous tipster tells them that iNis is the go to dev for the project, which makes a lot of sense what with their beat-game background and 360 project.

Rumor: Elite Beat-dev iNiS developing Xbox 360's 'Lips' karaoke game [Joystiq]