At the Penny Arcade game panel today at PAX, they've just confirmed that Penny Arcade Adventures: On the Rain-Slick Precipice of Darkness – the first installment of their episodic series – will "debut" on Xbox Live Arcade in 2008. That's in addition to the already announced PC, Mac OS X, and Linux platforms. It's unclear if the game is console exclusive to the XBLA platform or if other console ports are in the works.
This is the first digitally distributed episodic title to be announced for a home console download service. Telltale is working on Xbox 360 and Wii ports of Sam & Max, but it's unclear if the title will be distributed as a full season retail product or as individual releases through Xbox Live Arcade and Wii Ware respectively. You can check out the game's recently launched site here.