SEC expansion has been put on hold, at least for the time being. Dr. Bernie Machen, the chair of the SEC Presidents and Chancellors, has released a statement indicating that "no action" will be taken on accepting Texas A&M into the league as of right now. The statement did, however, leave the door open for the league to accept Texas A&M in the future.
"The SEC Presidents and Chancellors met today and reaffirmed our satisfaction with the present 12 institutional alignment. We recognize, however, that future conditions may make it advantageous to expand the number of institutions in the league. We discussed criteria and process associated with expansion. No action was taken with respect to any institution including Texas A&M."
That should probably end the thought of Texas A&M leaving the Big 12 for the time being. One potential problem may have been that the SEC could not find another team to join with Texas A&M. The league had suggested it would only add Texas A&M if a 14th team could be found.