I, too, am waiting for this sequel in great anitcipation. But I've read in Enertainment Weekly a few weeks ago that once Matrix: Reloaded will be released in May 2003, the third one, Matrix: Revolutions, will be following it in theatres only 6 months later. Reason for it is that Reloaded is supposed to have a "cliff-hanger" ending. So we get two Matrix movies in one year. Isn't that sweet?
And I also saw the trailer in theatres while watching Austin Powers in Goldmember. Can't wait till both sequels finally come out!