Looks like Sonic X ain’t as dead as people thought. Diskotek Media announced that they have achieved the rights to the Sonic X Anime. Expect to see DVDs soon.
Now it appears that only a English Dub is planned for release. The 4Kids dub. However Diskotek Media does do it’s own translation so there is a chance for a new dub and possibly a sub depending on how well the dub sells.
Keep your eyes open and hope for the best.