This is a very interesting story. Several years ago the Anglican bishop of London, Graham Leonard converted to Rome by way of the Pastoral Provision. Pope John Paul II bestowed on him the title Right Reverend Monsignor in 2000. There are now rumors that he might be given the Cardinal's hat, and that as a married priest.
It's worth noting that it is possible for a man to be a Cardinal without receiving the episcopate. Cardinal Dulles is an example.
Biretta tip to Father Nelson of the Vineyard.