In 2003, Capcom announced the Mega Man Anniversary Collection for the Playstation 2, Gamecube, and Xbox game consoles. The collection would be a compilation of the eight console Mega Man games with a few extras. A companion collection titled Mega Man Mania was also announced for the Game Boy Advance, which would instead feature the five Game Boy exclusive Mega Man titles with extras, updated and colorized accordingly. The game's titled was eventually changed to Mega Man Anniversary Collection, and it was slated to release alongside its console brethren. 
The game was frequently delayed. It was rumored that Capcom had lost the source code for the original games and was forced to reprogram portions from scratch. There was also a rumor that the collection was moving to the Nintendo DS, rumors that Capcom neither confirmed nor denied. Eventually the game was cancelled "indefinitely."
The five Game Boy Mega Man games eventually found their way to the Nintendo 3DS Virtual Console, though emulated in their original states. Capcom has not acknowledged any future plans to update the games.