It sounds that way...finally!  

http://www.serverwatch.com/news/article.php/3873916/Red-Hat-Enterprise-Linux-55-Released-RHEL-6-Coming-Soon.htm

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The new Red Hat (NYSE:RHT) release takes advantage of the latest Intel
and AMD processors as well as advancements in virtualization and Windows
interoperability. The release of RHEL 5.5 comes as Red Hat is about to
begin to ramp up its next generation Red Hat Enterprise Linux 6
platform. 

"We overlap on our releases as it takes many years to produce the new
version - RHEL 6 - which is currently in development," Tim Burke, vice
president of platform engineering at Red Hat, told InternetNews.com.
"Within the coming month we'll have our beta release of Red Hat
Enterprise Linux 6." 

Burke added that Red Hat will have some additional announcements on RHEL
6 likely coming out of their Red Hat Summit event in June. RHEL 6 will
be the first major version update for Red Hat since the first release of
RHEL 5 in 2007. 
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