You're eyes aren't tricking you, Street Fighter X Tekken is real, its been announced over the weekend at Comic-Con and it features the main cast from both games in glorious 2D Street Fighter IV fashion.
Capcom vs NAMCO in this major announcement at Comic-Con, both companies are developing a game:
Ono-san and Capcom will be developing Street Fighter X Tekken. Harada-san and NAMCO BANDAI will be developing Tekken X Street Fighter.
Both games will each have their own graphical style, Capcom will use the Street Fighter IV style, NAMCO the traditional Tekken style.
It isn't known if the Tekken X Street Fighter game will go down the 2D route similar to Capcom, only Street Fighter X Tekken was shown at the Comic-Con panel which you can see the first shots of below.
The demo shown featured Street Fighter X Tekken, Ryu and Chun-Li vs Jin and Nina respectively, and a tag style gameplay where you could call in another character to help you, very similar to Marvel vs Capcom.
Both games are due on Xbox 360 and PlayStation 3, as for a release, all that was said was that it won't be "for a while". Most likely 2011/2012.
Here's some of the shots, you can check out the rest through here.
