Well actually, there IS a possibility, but no confirmation has been anounced yet. Remember MK3?
The arcade MK3 was original intended to have a few more characters than it ended up with - what happened was during the last part of development the team just rushed the game to get it out there making money. Within a year they 'finished' the game, and the full game was released about a year or so later. This update was called Ultimate MK3, and was what MK3 is supposed to have originally been.
When the first MK3 game was released, home console conversions soon followed. All the main systems of the time (Megadrive, Snes etc) got the game. When the upgrade was released, players had to buy the upgrade at full price! Most of the systems which already had MK3 also recieved the upgraded version.
Let's not forget that Mortal Kombat Trilogy was pretty much a disaster, since at that point people were already fed up with MK3 and it's pallette swapped characters. Still, with as many characters as it had it still managed to sell well - perhaps to the PokeRefugees out there!
Thing is, like Capcom and it's Streetfighter II series, the Mortal Kombat team appeared to be milking it's game as well as our patience - the fact that MK4 failed so dismally was no doubt because UMK3 and MKT turned a lot of fans away from MK.
This may be a good reason why the updated version might NOT come to PS2 and XBox, but let's face it - when MK:SM comes out it'll be nearly 2006, the Next Gen consoles will either be out or nearly out. MK7 is most likely going to be released on PS3, N7 and XBox2... so I wouldn't be surprised if we eventually did get the game to coincide with MK7 fever!
But not until 2006 - don't hold your breath!!

the update wont have any new characters, it wont have online play and no videos.
Yet you dumb newbs are lying about it having new characters.
The gamecube will not have new characters.
For me, I am sticking with the PS2 version!

We don't even know what will be in the GC version and if its worth a second release. If it had 48 Arenas and 78 characters then sure there would be a good chance. If its only like a bread crumb or two extra then why would they bother?

Seriously dude. Shut up. Your Newbie bashing this morning is 1000x more irritating than every newbe "?" I've read over my life time. If your that irritated by them them seak help. If your not then you should know it doesn't make you look as cool as you think.

Well im asking that question since there was official info on mkaus.com.
Im not sure its real but if there are some new arenas and all the 19 characters from MK:Deadly Alliance (including Moloch Blaze & Mokap with their own fatalities) that are not in Deception (with their old fatalities from DA no new ones) plus the fatalitiest like scorpion's head rip with his spear and sub zero's skeleton rip and all of that shit must be included as a bonus to the now NEW look of Scorp Zero etc u get me?
Thats what im talking about it will be a good Update.I personally will buy IT!

Anyone remember Fight Night? They said that extra characters were possible.
And it would be INCREDIBLY RETARDED to release the Cube content to the Xbox and PS2. The only reason the Cube version is getting any extra content is because it won't be online.
Plus they said that they wasn't going to be any downloadable content for MK:D, which is probably how such an update would be delivered. Sorry.

Don't worry about it, having some more charcters hardly compares to online play. Plus they'll probably add lame characters like mokap and mavado or sumthin.

God it sucks to see so many jealous PS2-Xbox owners .
I have a PS2, and while it would suck (FOR ME!!!) to know that I wont be able to play with cool extra characters in deception, it doesn’t mean the GAMECUBE owners don’t disserve it.
Im happy they get extra stuff. I hope they get extra characters and extra arenas.
And no, I DON’T have a gamecube, nor I will buy one.

Hey bro, I forgot to answer your question
I think its possible. But maybe unlikely to happen.

If I was Ed Boon i would make Ultimate MK Deception (wich i was talking about).Since we all know MIDWAY are hungry for money as always I'm expecting that game.I'll add to it all the MK DA arenas that did'nt maked it in Deception.That will be fakin BIG update wich deserves to be relised.
Boon , Mk Team WE ALL KNOW THAT U WANT OUR MONEY SO MAKE THAT GAME AND YOU'LL BE RICHER

Grandpaaaaaaaa, bought a rubber...