Looking forward to seeing Bungie’s latest IP at E3 2011? Well you’re out of luck. According to an update on Bungie’s official website, the studio will not be making any announcements at E3, apologizing for any crushed dreams.

“We won’t officially be at E3 this year,” said Bungie.

“Remember the Band-Aid approach I talked about last week? This is what it feels like in practice. Sorry for the sting. We wanted to make sure you didn’t get whipped into a rumor-fueled frenzy only to have your expectations unceremoniously dashed during expo week.”

The new title is part of a 10 year deal with Activision, with the game expected to hit multiple platforms. In March, Bungie also confirmed teaming up with Image Metrics to utilize FACEWARE in creating realistic facial animations in their upcoming title. It will be interesting to see where Bungie goes with a new IP, with their past portfolio including not only the Halo series, but classics such as Myth and Oni.