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In an interview with FiringSquad.com, Sonys Director of External Development John Hight has stated that that the maximum size of PS3 game downloads will be 10 times that of Xbox Live Arcade games.
Hight told FS, "We’ve arbitrarily set a limit of 500MB to keep download times reasonable. Since we’ve got plenty of HD space we can accommodate even bigger games and a lot of them."
Currently Microsoft has a set limit of 50MB for its Xbox Live Arcade titles. This is manily to allow Xbox 360 owners without hard drives to be able to fit the downloads onto 64MB memory cards.
The PS3 on the other hand includes a 20GB or 60GB hard drive allowing more freedom to increase the sizes of their downloads.