It's official. Pepsi Blue is dead. Here's an article from The Atlanta Journal-Constitution that provides the bad news.
Little-noticed Pepsi Blue gone after two years
By Scott Leith
The Atlanta Journal-Constitution
05/01/04Check your refrigerator: If there's an old bottle of Pepsi Blue, you have a bit of a collector's item.
Berry-flavored Pepsi Blue, launched two years ago by Pepsi-Cola, is officially out of the market.
Until now, few people beyond the brand's hard-core fans even noticed it was gone. But trade publication Beverage Digest noted the demise Friday, helping close this particular chapter of pop culture.
"It was actually a pretty interesting idea, but in the end, violets are blue, colas are not," said John Sicher, editor and publisher.
Pepsi Blue debuted in 2002 around the same time as Vanilla Coke, which survives. It inspired sales of 17 million cases in its debut year, according to Beverage Digest.
In 2003, however, sales dribbled to just 4.9 million cases, a minuscule total in the U.S. soft-drink world. With that, it was only a matter of time before Blue faded to black.
"People give us credit for trying new things," said Pepsi spokesman Dave DeCecco.
Coca-Cola has had its share of failures, too, notably Surge, a former competitor to Pepsi's Mountain Dew.
While Pepsi Blue has disappeared, some of those who hold stockpiles are looking for takers. EBay, that reliable marketplace of everything obscure, has a number of Pepsi Blue items on sale as collectibles, including bottles of the soda itself.
Pepsi will try, try again. This June, the company is launching Pepsi Edge, a midcalorie cola that will compete with a coming new Coke brand called C2.
Let's all mourn for this beverage 
I PERSONALLY LIKE PEPSI BLUE. IT SHOULD HAVE NEVER BEEN DISCONTINUED……………….!!!!!!!!!!!!!!!!!!!
Ahhhh pepsi blue reminds me of when I was young with no responsibilities =/
I miss both my pepsi and my youth
Pepsi Blue was actually one of my first best memories from my childhood. im only 18, but it still makes me sad to know that my favorite drink of all time is gone forever.
Pepsi Blue was a revolting disappointment. When I was a little kid my father got a case of the stuff and me and my sister got a half dozen one liter bottles. I was excited because I love soda and 6 liters all to myself was great. Until I tried the stuff that is. The first time I drank it warm and got a nasty headache. The next day I gave it another shot, this time I drank a cold soda from the fridge, another nasty headache. I couldn't finish the bottle, I couldn't even get close. I gave it a third shot and when the same thing happened I refused to drink it ever again.