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In 2012 I guess. iLife '11 has been released in 2010 and the version before that in 2009. Apple seems to have an 18 months cycle with iLife.
 
iLife '11 is very new, so '12 is at least a year away. And since the individual apps are now sold in the App Store, there likely won't be any iLife Suite anymore.

In the iWork front, those apps will have a lot to gain if revised for Lion, so expect a new Pages, Keynote, and Numbers at that time.
 
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