The aeroplane which was supposed to be so fast never managed to reach its destination (namely the actual production line) and was scrapped by the end of the year after it had been publicly announced, i.e. towards the end of 2002. The main reason for this was that the research and manufacturing of the Boeing Sonic Cruiser would significantly increase costs to airlines, and could only offer a marginal increase in speed. Obviously this price had to be passed on to the end customers which meant that they had to pay lot more money for the small savings in time that they would get. Airline companies thought that this would not be a wise option and hence there were hardly any orders placed for the Sonic Cruiser. Boeing had no choice but to scrap the project.
You might be wondering what happened to the research and efforts which went in the R&D of this project. As you know hard work never goes in vain so the technologies that were refined or developed for use in this machine were used in the subsequent projects within the Boeing company.