A new colour of the K-7 is coming. It's a limited edition:-
http://www.pentax.jp/japan/news/2010/201004.html
(in Japanese)
It will be on sales on March 13 and 1,000 units will be manufactured and sold.
From the past experiences, I bet the K-7 model will come to an end and replacement model will soon follow. That happened exactly with the K20D and K-m, when their Silver and Olive Limited Editions had come - and shortly afterwards replacement models arrived.