Sure enough, an FCC approval doesn't guarantee a launch in North America, but it certainly hints at such a possibility.
Although it can't compete with the high-end Android smartphones currently on the market, the Xperia Ray is certainly a nice piece of hardware. It's only 9.4mm thin, and features a 3.3 inch FWVGA Reality Display, Bravia Mobile engine, 8MP autofocus camera with 720p video recording, and 1GHz processor. Like all the other new Xperias introduced this year, the Ray runs Android 2.3 Gingerbread.
source: Unwired View