I was having flashes of the Millenium Falcon from Star Wars, when i saw the title...
Then I though the Bird...and thought that a Falcon had flown up into space on it's own...
...Isnt there a falcon class fighter USAirforce... (F-15=Eagle Class, F-18=Hornet Class, etc)
And a quick off-topic note (Please dont Maul me Dekker

)
Uh. Ho-oh...
The name ho-oh is taken from Ho-o, alternativly romanized as Houou.
Ho-o is the Japanese name for the mythological bird - the Fenghuang.
Fenghuang are commonly called in the West the Chinese Phoenix.
More info here:
http://en.wikipedia.org/wiki/Fenghuang