Oracle and Apple today announced the "OpenJDK project for Mac OS X." OpenJDK will make Apple's Java technology available to open source developers so they can access and contribute to the effort.
According to the release, "Apple will contribute most of the key components, tools and technology required for a Java SE 7 implementation on Mac OS X, including a 32-bit and 64-bit HotSpot-based Java virtual machine, class libraries, a networking stack and the foundation for a new graphical client."
Apple also confirmed that Java SE 6 will continue to be available from Apple for Mac OS X Snow Leopard and the upcoming release of Mac OS X Lion. Java SE 7 and future versions of Java for Mac OS X will be available from Oracle.
More Info: OpenJDK