Could potentially be released next week.
The next update for Battlefield 3 is currently in the certification stage. The status of the patch was confirmed by DICE community manager Daniel Matros on Twitter. It means the patch is now complete and is being vetted through the console manufacturers.
BF3Blog points out that the last Battlefield 3 patch took approximately a week to get passed through certification.
The patch is presumably the update that DICE originally said would be released in February, which was rumoured to stop people deploying mortars from their spawn and make some ribbons easier to obtain.
Last week DICE also announced the Close Quarters DLC pack for release in June, the first of three additional Battlefield 3 expansion packs scheduled for this year.