Lionhead's head lion Peter Molyneux recently said in an interview with GameTrailers that it took three years to make Fable 2. We note this because in the same interview, he also talks about doing three more Fable games. "We've got plans for Fable 3, 4 and 5 actually," he said. "It's a big story arc and if you play Fable II you'll recognize things from Fable 1." Extrapolating on Fable 2's development time, expect to see the series continue in 2011, 2014 and 2017, respectively.
Additionally, Molyneux said that Lionhead is working on another, secret project that was the "kind of the result of an experiment that went incredibly well." He then went on to say that he likes projects that are challenging and made references to the sports genre, which may or may not indicate we'll see a fantasy RPG based on Brockian Ultra Cricket.