Bishop Fellay gave a sermon in Villepreux, France, on Pentecost Sunday (yesterday). Rorate-Caeli has a translation of the sermon.
From His Excellency’s sermon, it sounds like the Holy Father wants to recognize the society, but that there is a lot of opposition within the Church to this move.
As Bishop Fellay points out in his sermon, the Society is cautious, due to how other traditional-minded groups have been treated by Church authorities. It is possible that the Society of Saint Pius X would have to say ‘no’ to a deal.