King Crimson's label DGM have announced that they will start to release the Steven Wilson 5.1 surround sound mixes of the King Crimson back catalogue in June, with "Lizard" and "Red", followed by a special 40th anniversary edition of "In the Court of the Crimson King" in October. Where appropriate new stereo mixes and out-takes / alternates have also been mixed, although we don't know yet if DGM will approve these for release as part of the new editions.
According to Classic Rock Magazine, 5 albums have been completed with another 5 in the works...