Bill Gates talked at Mix ‘n Mash event and told that the new version will be called as IE 8. So, yes the new version after IE 7 is IE 8. There were many name options in mind like;

• IE 7+1
• IE VIII
• IE 1000 (think binary)
• IE Eight!
• iIE
• IE for Web 2.0 (Service Pack 2)
• IE Desktop Online Web Browser Live Professional Ultimate Edition for the Internet (the marketing team really pushed for this one
• Ie^2.079 (we might still use this for the Math Major Edition)

After its name was decided, still there are many questions in mind. “Does it have feature X?” “When is the beta?” “When does it release” and even the more thoughtful “What are you trying to accomplish with this release?” We are waiting for the answers to all this questions from Microsoft.