You may have heard the original rumours, but it seems that one of the most historic first-person shooters to ever grace the Nintendo 64 has indeed been remade for the Xbox LIVE Arcade. However porting this game to the Xbox 360 required the input of four key game companies; Rare, Microsoft, Activision and Nintendo. Rare is the original developer, Microsoft (who now owns Rare) has produced a remake, Activision own the rights to the James Bond franchise and Nintendo was the original publisher. So far, all the companies have given Microsoft the OK to produce the game except Nintendo.
Nintendo has been pushing for GoldenEye on the
Wii since Reggie announced last year that they were exploring all the issues involved in making it happen, and Nintendo obviously don't want Microsoft to have it. But according to the source, Microsoft had a plan where the Xbox LIVE Arcade got the remake (with better graphics and an online mode) and Nintendo got an exact port of the original for the Virtual Console. However, Nintendo declined the offer and thus, the game remains unreleased. Whether Nintendo want the remake for WiiWare or they want the game all too themselves is unknown, but we will keep you posted. Here is the only known screenshot of the remake:

Ohhhh pretty.
Source:
CrunchGear Archive It’s Nintendo’s fault you’re not playing GoldenEye on Xbox Live Arcade