There's rumors of a 7D replacement coming out soon.
This rumour has been out there for the last 2 to 3 years.
I would say, depending on your needs, the 70D is the better buy.
If you need a tough as nails crop sensor, that has fast FPS, CF Cards and really good weather proofing, then the 7D is your man.
But it sounds to me 70D will be a better option, you're upgrading from a Rebel, so I'm guessing you feel you want better ergonomics, a few extra features, etc. Than 70D is the camera to get, it uses SD cards, which means all the memory you already have will work with this new camera. It's better in low light, than the long in the tooth 7D, but not by huge amounts (it won't be like going from a 60D to a 6D).
Think of it this way. Canon's line is designed like this
T5i -> 70D -> 6D -> 5D -> 1D
The 70D replaced the 60D, not the 7D.
The 7D is kind of in a niche spot, it's a crop sensor, with (at the time of release a 1D Mark IV, AF performance). Birders and Sports photogs on a budget love them.
My guess if we ever see a 7D Mark II, it'll be the 70D sensor, with the same body the 7D already has, and the 1DXs AF system.
What type of photography do you do now? Do you plan to do alot of outdoor, in the bush photography? Birds, wildlife, hiking etc?