If the monster is casting a spell with verbal or somatic components, then the PCs would definitely get another listen/spot check. If the monster was trying to do this quietly and still remain hidden, then let them make an opposed hide/MS roll. I'd also make them do a concentration check similar to Casting on the Defensive, simply because this type of action is not normal.
Other than that, the above comments are spot on. The PCs will not get another spot check unless one of the conditions change or the monster does something that warrants a new opposed roll.
On a side note, per Song and Silence, you can perform a melee attack from hiding.
"Sneak up on Someone: You can sneak up on someone using Hide checks, but you MUST move from HIDING PLACE to HIDING PLACE to do so. Use the procedure in Tail Someone section (above) for this. If your last hiding place is within 1 foot per Hide rank you possess of your quarry, you can sneak up and
attack before he or she sees you." p. 37 (emphasis mine)