Sega and Nintendo co-announced today that one-time rivals Sonic the Hedgehog and Mario will be co-starring in an upcoming title based on the upcoming 2008 Beijing Olympic Games.

Mario & Sonic at the Olympic Games will feature both video game icons competing in events in environments based on the official venues of the Beijing competition, and is of course licensed by the International Olympic Committee. The title is slated to be published for Christmas 2007 by Sega in Europe and North America and by Nintendo in Japan, and will appear on both Wii and Nintendo DS.

With luck, more information will be coming soon on the game's official site.