Update: Eurogamer spoke to Sony's Jim Ryan following this report and asked him, flatly, whether The Last Guardian had been cancelled.

"I don't believe it's been cancelled," he answered. "Had it been cancelled, some sort of announcement would have been made. I think the watch-word is patience."

We asked whether "PS4" would be another word and he fell about laughing, unfortunately giving nowt else away.

Original story: Team Ico's long-awaited PlayStation-exclusive The Last Guardian is now "on hiatus", Sony has admitted.

Sony exec Jack Tretton revealed the news during a just-concluded GameTrailers interview.

"The cool thing about our worldwide development studios is we have so many projects out there from so many different teams," Tretton explained when asked of The Last Guardian's whereabouts.

"Projects never ultimately go away. The Last Guardian isn't going away but is on hiatus right now."

The Last Guardian was announced for PlayStation 3 back in 2009. Since then we've heard word of technical problems behind the scenes and hints of a possible leap to PlayStation 4.

"While it's been a long time coming, The Last Guardian remains under my creative supervision and is still in development by an incredibly talented team," creator Fumito Ueda said back in February.

"I should also mention that details regarding The Last Guardian's release is [sic] solely decided by Sony Computer Entertainment, not myself. Please keep an eye out for their official announcement."

That announcement, it seems, may now be a while coming.