Yes, it's being sold now. It's a low-budget, low-profile title, so it doesn't get much coverage in the gaming press, and can be a bit hard to find. I'm also willing to bet that it gets mostly average reviews, which further hurts availability.

It should be available via the various online stores, and I heard that Fry's has a good supply of copies in the US. The Euro/US edition is called something like "Space Rangers DVD Edition", and contains both SR1 and SR2.