The sequel is titled Final Fantasy XIII-2 and will feature an all new story, starring characters we all know and love (Lightning is back, at least), that takes place after the events of the first game. The gameplay will also see improvements - and judging from the pile of mediocre reviews the original received, Squeenix should have a pretty good idea of what needs fixing. We're hopeful.
The best news is that Final Fantasy XIII-2 is currently scheduled for release, in English, in Winter 2012, which is just a year away.

