A new Ultima forever shall be released in 2012. EA and BioWare have just announced a brand-new entry to the series! Aaaaand its name is Ultima Forever: Quest for the Avatar.
It’s going to be released for the PC and iPad with cross platform play (how awesome is that!). In addition, this action RPG is going to be free to play.
You can sign up to get into the closed beta, best of luck
Source: Destructoid