Not so, so long ago they (sort of) reformed under the name "The Orchestra" with original member Bev Bevan (IIRC) and a new singer - Parthenon Huxley (aka P. Hux, Rick Rock, Rick Miller). P. Hux was an early songwriting collaborator with E of Eels, and has been a longtime favorite of mine. This past July,I contaced P Hux about performing an ELO heavy set for my wife's birthday party - and he was available. In the end, we went another way, but it was fun revisiting all those old ELO tunes in the process.
BTW, I'm a fan of Jeff Lynne, but I'm not so sure that Roy Wood wasn't the real genius in this band - if only briefly.