To help developers and database administrators understand the mechanics of PolyBase and how to write T-SQL queries to access data from heterogeneous sources, Kevin Feasel, proprietor of Catallaxy ...

PolyBase will be released in the first half of 2013, as part of the next version of SQL Server PDW and will integrate data in Hadoop's Distributed File System (HDFS) with the relational database ...

There are other new features in SQL Server 2012 SP1, as well, detailed in this MSDN post. Microsoft is not sharing the codename for its next version of SQL Server, nor a tentative arrival date for it.