Apparently, VideoLAN is working closely with AppCampus to get this app released by August. AppCampus, for those that did not know, is a mobile application accelerator program managed by Aalto University in Espoo, Finland. AppCampus is an 18 million euro joint investment between Microsoft and Nokia to foster mobile application development on the Windows Phone platform.
This rumor comes from Nawzil on Twitter, who has acurately predicted things in the past. However, knowing VLC's track record, the August date might get pushed back. We'll just have to wait and see in order to believe this one.