As Famitsu reports, a remake based on the GameBoy Advance version of the 1992 JRPG, with redesigned sprites, comes to iOS by the end of this month, with an Android release around the summertime. It's priced ¥1,800, which is around $19. There's no word yet regards outside of Japan, but previous entries have had same-day worldwide releases. It's not unlikely we'll see FFV hit the App Store by the end of the month.
When approached about a western release, a Square Enix representative told Joystiq, "We don't comment on rumor or speculation."