Cave producer Makoto Asada confirmed Mushihimesama HD (known as Bug Princess on iTunes) is their next arcade port. Asada says on the Cave blog the announcement will be featured in Famitsu Xbox 360.
Mushihimesama HD will have enhanced graphics and additional content not in the PlayStation 2 port which Asada reminds us was not developed by Cave. A release date for Mushihimesama HD was not announced.
Cave also outlined plans for future downloadable releases. Deathsmiles, Mushihimesama Futari Version 1.5, and a third title will be available via Microsoft’s Games on Demand service. While the news is for Japan, Deathsmiles 2X was also released as a digital download. Microsoft distributed the game internationally as the first digital import for Xbox 360. In an interview with Siliconera, Asada said Deathsmiles 2X was an experiment that turned out "pretty good" and Cave is considering to release other retail shooters this way.