A post on The Behemoth (Castle Crashers, Alien Hominid) official blog has revealed BattleBlock Theatre, previously known only as “Game 3″, for Xbox Live Arcade. The game, which doesn’t have an official release date, is described below:

Having shipwrecked on a mysterious island you find yourself both betrayed by your best friend Hatty and captured by the locals. All of this is happening while being forced into deadly performances. This however, is just the start of your problems.

BattleBlock Theater is our upcoming third title for the Xbox Live Arcade. Website to follow in the next few days and as we inch closer to the release of the title we’ll be unfolding more of the story online.

Nice. Words are only so good of course, which is why we’ve posted the debut trailer below as well. We’ll keep you posted on any new details as they emerge.