At some Star Trek panel at some convention, Abrams teased the idea if a sequel, or possible spin-off, to Cloverfield. Here's the quote:
“We have an idea that we thought was pretty cool that we’re playing with, which means there will be something that’s connected to Cloverfield, but I hope it happens sooner rather than later because the idea is pretty sweet.”

read the rest over at SlashFilm
http://www.slashfilm.com/2009/03/01/jj-abrams-has-pretty-cool-idea-for-c...
-Twitch