The Bluetooth SIG will create a version that runs over Wi-Fi: Bluetooth comprises applications and radio standards. The applications include standard profiles that developers use to add features like keyboard and input device access, file transfer, and dial-up networking. The Bluetooth SIG has a long-range plan to keep Bluetooth relevant by essentially adding more radio technologies underneath, not just the 1 Mbps version found in Bluetooth 1.x and the 3 Mbps version in the Enhanced Data Rate (EDR) part of 2.x+EDR.
Ultrawideband (UWB) was one of the preferred newer radio standards, something they decided on supporting in March 2006, because UWB seemed to be near term at that point, and was part of the original migration path for personal area networking in the IEEE 802.16 group that Bluetooth has some coordination with. (UWB was to be the radio standard for 802.16.3a until the group disbanded over friction caused by a now-dropped original flavor of UWB from what is now Motorola spin-off Freescale.) UWB is low-power and low-range, making it ideal.
But it's hardly on the market yet and is way too expensive. This pushes back Bluetooth over UWB in handsets to something like 2009. TechWorld notes that UWB vendors say that UWB handsets will be on the market (in Asia) within six months. Of course, UWB chipmakers and manufacturers have been telling me since 2006 that UWB products will be shipping in a few months. They weren't lying; complications ensued. I accept that. But I'm now Missouri as regards UWB in shipping hardware.
As a result, TechWorld reports, the SIG's chair, ironically a Motorola employee, said that they would focus on building Bluetooth over Wi-Fi. Details aren't available, and one UWB vendor says that Wi-Fi and Bluetooth are incompatible due to security models.