Steve Jobs is coming back. According to the WSJ.com’s sources, Apple’s CEO who is a pancreatic cancer survivor, will return from medical leave this month. But what everyone wants to know, is will he be back at the company’s annual software developers conference on Monday, to possibly debut a new iPhone. Some analysts aren’t holding their breath. According to the WSJ.com’s source, Jobs was “one real sick guy.” Envisioneering Group analyst Richard Doherty said, “We don’t think that’s likely to happen at WWDC.” 

As for a new iPhone, the WSJ’s source told them that Apple (NSDQ: AAPL) is “ready enough” with its latest iPhone to launch it next week, though analysts still believe a mid-July debut is more likely, as the timing will be right for initial iPhone buyers to upgrade. The new version looks similar to the model rolled out last year but has more processing power and the ability to record and edit video. The FT.com is also reporting that Apple will slash the cost of the new iPhone, with analysts speculating it could be priced either at $99 or $149, which would certainly boost sales.

Meanwhile, it looks like even if Jobs returns to Apple, COO Tim Cook will continue to run the daily operations. Jobs’ absence, say analysts, is “less and less of a key variable” as Apple seems to have survived just fine while he’s been out on medical leave.