Limited Run Games has announced today that Grounding Inc.’s Space Channel 5 VR: Kinda Funky News Flash! will be receiving a release on July 31st. The game is a followup to the Dreamcast originals, but utilizing PlayStation VR hardware. No word yet on price, method of release (open pre-order or limited number) or if a special edition box is planned. But my fingers are crossed for a classic release containing a Dreamcast-style case. More news as we hear it!
It has also been confirmed by @LimitedRunJosh that the Hatsune Miku DLC will not be included in the physical release due to licensing reasons.