So I don't have to keep updating this, the best way to find out the current state of UFO and Michael is to look through the Latest News section of this forum and navigate to the 'Latest Albums and Tours' page of the site (click Main Contents and then Latest Albums).
Also try the Archives where you can catch up on all the Old 'Latest News' items since 1995.
Basically thought, Michael is no longer officially in UFO, but is actively pursuing solo projects (including MSG). UFO are still going strong with guitarist Vinnie Moore.