I forget which geek-news blog I read it on, but apparently Jeri Ryan came out and said that this was made so the director could pitch a movie to a studio. So, no, it's not a real movie right now, but if we're lucky it could be. I'm not even a Mortal Kombat fan, and I'd probably go see this... :)
Edit: Didn't find the original post, but found another one confirming that this was made to pitch a new MK movie.
http://www.toplessrobot.com/2010/06/the_secret_of_yesterdays_awesome_mortal_kombat_vid.php
Edited, Jun 9th 2010 5:51pm by Rykhorne