More info was released today on the "Satoshi's Pikachu" Wi-fi event. Details are as follows.

Name: ピカチュウ ♂
Lv. 50
OT: サトシ
ID No.: 07150

Moves: Volt Tackle, Iron Tail, Quick Attack, Thunderbolt
Item: Light Ball
Nature: Naughty

It will have a Classic Ribbon, as most event Pokemon do.

And it will be given away in Japan from July 15 to August 10. So if you have a friend in Japan, be sure to try and get yourself one.

Source: Serebii.net