Perhaps the media is in a bit of a frenzy regarding the status of a potential new System of a Down album. Bassist Shavo Odadjian is the one mainly fanning the flames, hinting at a new record coming this year later adding had songs already written for it.
While frontman Serj Tankian has previously stated "there is talk" of a new record, in a new interview with Spin, he does not pull any punches:
There is an openness to working together again when we all have material that is mutually accepted. We don’t have a set timeline or anything else to report. One think we do all agree upon is that it’s gotta be a leap from what we’ve done before.
At this point, the band is on tour promoting awareness of the 100th anniversary of the Armenian genocide and have said they will reassess where they are after tour.
I highly recommend checking out the Spin article as it mostly focuses on reflecting on their landmark release, Toxicity, including Serj's favorite lyrics, Rick Rubin's influence and the fallout from having it released around the time of the September 11 attacks.