Pratik Patel, technical director for Electronic Arts updated his page on LinkedIn (like Facebook, just more corporate!) to include "Dead Space 2/Project ETA." A sequel's hardly surprising, but the fact it's underway might be news.
Superannuation (or Superogatory, its tumblr URL), which devotes itself to monitoring this sort of thing, found the update and noted it about midnight. Of course, "Dead Space 2" could be confused/shorthand for "Dead Space Extraction" but the "Project ETA," means probably not.