User blog comment:Wikiyous/The chance of the anime to continue on to Gun Gale Online/@comment-4631119-20121227045644

For your reference, the light novel translations now up to Volume 10. Volume 11 are currently in "project preparation" phase, so no translation has been done on this volume yet.

Next, for the possibility for Sword Art Online season 2 (which most probably will feature Gun Gale Online - Phantom Bullet Arc, Caliber SS and Mother's Rosary SS) it's sure high, but as you (might) know, the sibling of this anime, Accel World, also have high demand for the 2nd Season.

In my opinion, Aniplex will most probably aired the Accel World first before doing the Sword Art Online, since Accel World's first season has ended last September while Sword Art Online just recently. About the project announcement, I still believe that they will keep it as secret, at least until next Winter or Spring season, since the Fall season hasn't ended yet.