Lost continues until 2010, or until it loses all the viewers, whichever happens first.

Lost to carry on to 2010 (via BBC)

So, just another 3 years of ignoring it then. Maybe I'll start paying attention around the time of the final 4 episodes to see what they've done with the show.
It started out so wonderfully, quickly becoming must see TV, but within half a series had become the perfect example of how to drag a series out too much. It's all very well dangling question after question in front of us, but there comes a time where you have to take one of two routes or risk losing the audience.

Route 1 is to be so good and inventive that the audience don't mind being dragged blindly along - Twin Peaks for me was the perfect example of that. I know a lot of people didn't like series 2 but I thought it was quite wonderful.

Route 2 is to actually give the audience some resolution. Not everything. Just enough to stop them turning off in droves.

Sadly for Lost, they've gone for option 3; neither of the above, just spin the whole thing out for as many series as you need. Watch with us as ratings take a nosedive again.