MMA Junkie gets the story from Anderson Silva's manager Ed Soares:
"The latest is he's not fighting Jan. 2," Soares said. "That's not going to happen. He won't be ready."
Silva recently had bone spurs removed from his right elbow, and the rehabilitation necessary following the procedure means Silva won't be ready to defend his title in a proposed UFC 108 matchup with Vitor Belfort.
The story of Silva's negotiating tactics and is it/isn't it elbow injury has been well covered over at BloodyElbow.com. The real important thing here is that the UFC has already had trouble finding enough main events for the number of shows they want to put on and now both Silva and Lyoto Machida are on the sidelines with injuries and uncertain return dates. Add in Georges St. Pierre and his injured groin and that is three UFC champions who are on the shelf.