Yes says the CNN:

An unexplained radio signal from deep space could — just might be — contact from an alien civilization, New Scientist magazine reported on Thursday. The signal, coming from a point between the Pisces and Aries constellations, has been picked up three times by a telescope in Puerto Rico.There are other explanations besides extraterrestrial contact that may explain the signal. New Scientist said the signal could be generated by a previously unknown astronomical phenomenon or even be a by-product from the telescope itself.But the mystery beam has excited astronomers across the world.

No says the BBC

Astronomers have moved swiftly to quell speculation they may have received a deep-space radio signal from ET. It was reported on the internet that the signal had been found using the Seti@home screensaver that uses computer downtime to analyse sky data from telescopes.

Which of these do we believe? I am sure that there is life out there … but by the time their signal reaches us, would life still be there?