While Gary Rydstrom (Toy Story: Hawaiian Vacation) is directing an animated feature for Lucasfilm, it will not fall under the Pixar banner. Nor have any details about this feature been released, so its not clear if it will even be Star Wars-related.
John Lasseter had this to say.
"That [movie] stays under the leadership of Lucasfilm. [Is there potential for a Pixar Star Wars movie?] Not really, other than Pixar has always used Skywalker Sound for all of our productions. They're the best so we'll always continue using them and we're very good friends. And we always have been with [special effects house Industrial Light and Magic] as well. But other than being friends we have never needed to do anything with them. But we're also massive Star Wars fans so we're all very excited, as is everybody around the world, for new Star Wars films. I don't know anything about it other than just being a fan."
To read the full interview with John Lasseter:
Star Wars: Episode VII comes to theaters December 18th, 2015 and stars John Boyega, Daisy Ridley, Carrie Fisher, Harrison Ford, Mark Hamill, Adam Driver, Domhnall Gleeson, Lupita Nyong'o. The film is directed by J.J. Abrams.