"Hello World" - homebrewing begins on the PSP?

"Hello World", the traditional name for the first program created when coding on a new system, is reportedly working on the PSP—v1.0 boot; a Japanese pre-updated PSP. This could be the first step towards homebrew for Sony's handheld...
Ladies and gentlemen, the floodgates are open(ing?)!

[via PSP411.com]