An exercise bike peripheral for the Wii is nothing without a remake of Paperboy.
That having been said, the Cyberbike is being developed by European publisher Bigben Interactive and comes bundled with some sort of lame treehugger game that requires you clean up the planet with the power of your eco-calves (don't worry, it also works with Mario Kart). The bike is slated for a January release in Europe, but pricing details have not been announced. Granted, it will most likely be cheaper than purchasing an actual exercise bike, but I can't imagine that some plastic, boxed Wii accessory will be able to handle the beating. Even professional stationary bikes break down on a fairly regular basis. [Kotaku]