I don't know...I read an article that quoted him as saying that he would like to do the Hobbit in 2007, but MGM and New Line are arguing about who could have the rights to the movie, or something like that. That was about a month ago, I'd say. Unfortunately, I can't find the article itself right now but I'll keep looking.
[EDIT] I found a different article, although I don't know if it is legit.
Ananova