In an interview at Los Angeles Auto Show, Lamborghini CEO Stephan Winkelmann denied any rumors about a future SUV. Winkelmann said the company will focus on the Gallardo and the Murcielago, and also a new model will come every year, but none of this will be an SUV.

In the interview, Lamborghini also said that the Reventon was created to celebrate the Lamborghin’s success. It will be limited to 20 units all over the world, and 11 of those are coming to USA.
Stephan Winkelmann said that the Audi R8 is a "wonderful car", but is not a a threat for Lamborghini.

I was told personally by Stephan Winkleman in Early Summer 2007 that the only platform that would make sense from a cost standpoint was the Cayenne/Touareg/Q7. However, the platform is too heavy and has been around a few years, so it would not make sense to use it for a modern Lamborghini SUV. No plans to build a SUV at this time. This was reconfirmed only this past week in another conversation with a factory rep.

However, the above having been said, who knows what could develop!?

I know I personally would welcome a well done Lambo SUV. Even theough the Gallardo is a great daily driver, it only carries 2 people!

I new model will come every year?!?!?

I think they think of the SuperLeggera as a new model, and the LP640 as a new model, and the LP640 roadster as another new model.

Ahh yes thats true your right, but even then seems a bit excessive.

I saw a Audi R8 a few days ago. It is definitely not a threat to Lamborghini.