The company cited stability and consistency issues as the reason behind its decision, according to a blog post.
"After extensive in house testing with our developer teams and working with our partners, we have concluded that a consistent and stable experience, particularly with gaming, cannot be guaranteed for this smartphone on Ice Cream Sandwich," Sony wrote.
The Xperia Play, touted as the first PlayStation-certified smartphone, was scheduled to receive Android 4.0 sometime between the end of May and the beginning of June.
Sony previously brought Google's latest operating system to its Tablet S devices, and will roll it out for other phones in its Xperia range in the near future.
A next generation model of the Xperia Play with a dual keyboard is rumoured to be in the works.
Watch a video introducing the Xperia Play below:
