According to the last week's report at Mobile Crunch, the upcoming Sony Ericsson XPERIA X3 Rachel will make its debut as the company’s first Android smartphone in January 2010. Keep in mind though that this info is pure speculation, so we suggest you to wait for the official word.
As for the technical side, the X3's known specs include:
4" 800 x 400 touchscreen;
Also, here's a short video of X3 Rachel UI for you to drool over: