Barron’s reports that the future of Microsoft’s Zune media player is in Danger:

The company will unveil (at the Consumer Electronics Show January 7) a new device combining the features of the company’s Zune music player and its Danger Sidekick handhelds, combined with…. “some motion enhancement features” using an accelerometer.

That would be consistent with other recent reports that Microsoft is readying a combined Zune/Danger device; CNBC reported in November that the company plans to unveil a Zune-based phone code-named Pink; that follows previous reports that Microsoft was a working on a project known as “Project Pink,” or “the pink and purple project” to do something similar.

Microsoft acquired mobile platform developer Danger in April of this year, and people have been speculating about the purchase since then. According to Microsoft’s Danger website, the goal of the Danger platform is to “be the industry’s preferred Java mobile Internet platform.”

Given Microsoft’s history, a likely move for them would be to create a Zune Danger Phone, an alternative to the iPhone designed to be a robust client for Exchange and the company’s other enterprise applications, in addition to being a Zune.

Zune Phone Concept Image: Zunescene