Will there be a nexus phone later this year?

Consider all the hoopla about the Moto X and Google Experience phones. Combine that with rumors of an updated Nexus 7 and Android version update.

Given all the projects requiring Android employees' attention lately, what do you think are the chances that a new Nexus phone will be released later this year? Is another Nexus phone even necessary?

(Note: I realize that Moto is being run by people separate from Android; however, it is in Google's best interests for the Moto X to do well.)