I don't know about the future but clearly Arteta is a major asset to the club and will not be open to a move away to Barcelona. I don't see this transfer speculation being realistic anytime soon, Arteta is enjoying his time at the Emirates and will continue to see manage the team for further years. The team is doing well at the moment and obviously the project is going well so abandoning the project now wouldn't be a good idea. Barcelona will have to sort for a manager else where.
There are quite a lot of transfer speculations surrounding Barcelona, and it is laughable if you consider their current financial status, some people have been speculating that Messi is going to return (i think that's impossible), and now it is Arteta replacing Xavi, i don't see any reason why Arteta would want to move to Barcelona, it isn't as if the club (Barcelona) is doing too well, both financially and on the pitch, if Barcelona are going to replace Xavi, it won't be with Arteta, Barcelona are no longer that big enough to convince him to leave a team (Arsenal) he is doing so well in.
Having said that, what i think is possible is Arteta moving to City in the next few years (i mean when Pep leaves), as a former City assistant manager, and with City doing very well, i think they might be able to allure him out of the Emirates when Pep leaves, because Arteta looks like a perfect replacement for Pep.