A new species of bacteria has been discovered with minimalistic genome size having just over 180 genes and less than 200k bp. They say it could be an organelle into making.
I don’t know, for the existence life, what is the limit of the genomic size or, for the matter of fact, even if the genome itself is needed. There might be some exotic types of life forms waiting patiently for us to discover them. I am just hopeful they are discovered within my lifespan.