According to Spanish website Meristation it is not a matter if, but rather when. According to an inside source, developer Ready at Dawn, known for Daxter, is working on a PSP spinoff, indicating this might not be just a port, but an all new title, for Sony Santa Monica's original God of War. No further details were provided, so hopefully there will be an official announcement soon ...
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'God of War' (PS2) Coming to PSP?
by Rainier on Feb. 9, 2007 @ 3:17 a.m. PST
God Of War makes powerful use of the darkly imaginative world of Ancient Greek mythology, where the realms of the mortal and the divine collide in a pervasive atmosphere of brute force and violence. Playing as Kratos, throughout the game players will wield double blades bound to his body by long chains, weapons symbolic of this vicious world to which he is bound and the fate from which he seeks to escape.