Telltale Games have announced that the first two seasons of Sam & Max are heading for Xbox Live Arcade. Season One will be called Sam & Max Save the World and the second season will be called Sam & Max Beyond Time and Space. Both seasons will be released in their entirety with all the episodes. No release date has been announced, but fairly soon sounds like a fair assessment.
Retail releases of the full second season on PC and Wii are also on the way.