Guns Holsters and Gear has the gun gossip:
“I wouldn’t bet my life on it, but if somebody was taking bets, I would bet that in the year 2009, Ruger might come out with one of those [the SP101] in .38 Special, +P rated in an aluminum frame…”
If they do release it then they will probably aim to do so at SHOT Show 2009 in January.