With next generation sequencing technologies that have become available over the last two years, there is enough DNA sequencing machines that their combined capacity is, at a guesstimate, about 30,000 Gb per year.
How much DNA sequencing is that? Enough to sequence the genomes of 10,000 people per year. In other terms, enough capacity today to sequence every bacteria and virus species in a single year, or every the genome of every species on the planet in 300 years, bacterial genomes being small.
The sequencing technology is improving at a fast clip and I expect that in ten years or so it will be 1000X better (faster and higher capacity sequencing machines). So in ten years, it will be possible to sequence every species on the planet in a single year.