This sounds very sexy. Here’s Car & Driver with more:

On the heels of Lexus’s freshly launched IS C convertible, inside sources have told us that an IS F version is in the works for a launch in early 2011. While the retractable hardtop IS convertible is comfortable, luxurious, and a good value against its German competition, it isn’t the most thrilling drive. Toting around some 400 pounds more than the sedan on which it’s based, the entry-level IS250C’s 2.5-liter V-6 has to be revved hard to achieve anything resembling quickness. The IS350C offers a decent amount of gusto, but in a segment populated by high-performance convertibles from BMW, Audi, and others, even that higher-spec IS droptop lags behind in terms of driving enjoyment. – from Car & Driver