We recently put the burden of maintaining BMW's soul and sporting character almost solely on the shoulders of the 2-Series, and the M235i (Shown) in particular. Luckily for that little car, it seems that back up is on the way.
A proper M2 is something BMW would like to do. It would straddle the difference between the 322 hp M235i and the 425 hp M4, itself producing about 380 hp, and draw technology from the M4. A limited slip differential would be standard, as well as a lot of the M4's chassis tuning and tech. Some features, like the adaptive suspension, would be left off or kept as an option to keep the price as low as possible.
If this comes to pass, expect the M2 in 2016.