Previously this week Atlus, the US publisher of Demon's Souls, announced that the game will be released on PSN in North America on January 8 ($19.99). Namco Bandai, the game's European publisher, have subsequently confirmed that it will be released over here as well on January 23.
Demon's Souls later spawned the popular spritual successor Dark Souls - and that game in turn is getting a sequel later this year.