According to this short article in The Cleveland Plain Dealer Donald have plans to record some new songs early next year:
“I have a bunch of songs that I’m set to record sometime in the spring,” Fagen said.And as far as a new Steely Dan album go:
"Walter and I keep tossing around ideas for another Steely Dan album, but there’s nothing set yet,” Fagen said during a recent phone interview.So it might happen. Eventually.
The latest Steely Dan album is Everything Must Go from 2003, while Donald Fagen's Morph The Cat was released in 2006.