Runic Games have announced that their budget-priced dungeon crawler will be making it's way to consoles shortly, with an Xbox 360 version due on the Xbox Live Arcade platform.
A FAQ over on the official site
explains that the console port will include a complete GUI overhaul, a tailored control screen with no "virtual cursor" as well as some improvements taken from the in-progress Torchlight 2 code-base that will improve the automap and speed up load times.
Unfortunately, they also confirm that there are no current plans for a PlayStation Network version.
Torchlight for Xbox 360 is due in Autumn 2011 (U.S. Spring). Stop by our game page
for several Xbox 360 screenshots.