Google Glass team announced that Glass is “graduating” from Google X labs the experimental unit of Google.
The Explorer program will officially end on January 19, and the group that was responsible for developing Google Glass will now report to Tony Fadell, the man in charge of Nest.
Additionally, email's went out to Explorers, stating that further development will cease for existing versions of Glass while the team continues working on the next version. Support will still exist for those who need it, though.
It’s possible that given the timing of this announcement Google will have something concrete to announce at Google I/O later this year.
Source: Google Glass Google+