It appears now that instead of demoting Pluto, the IAU is proposing the addition of three new planets to the solar system. The proposal would divide orbiting objects into two categories: planets, which are large enough for their gravity to pull their orbits into roughly circular form, and plutons, which are "small planets that have orbits of more than 200 years, meaning they orbit beyond Neptune." If the resolution passes, the solar system would consist of 12 planets: Mercury, Venus, Earth, Mars, Ceres, Jupiter, Saturn, Uranus, Neptune, Pluto, Charon and 2003 UB313 (Xena).

I also think it’s important to note that, "this issue falls a long way down the list of astronomers’ concerns. … Astronomers will remain more concerned with the bigger picture … including which of those whizzing cosmic bodies might actually collide with the Earth."