Yes, and is real!!!
Today Microsoft launch the Office 365 App for iPad also with a free 30 day Office 365 trial, just to enjoy and get involved on the cloud interaction.
From Microsoft words:
“Now your Microsoft Office documents look better than ever on iPad! The Word, Excel and PowerPoint apps have the familiar Office look and feel along with an intuitive touch experience, so you’ll be up and running in no time. When you edit a document on the iPad, you can be sure that you won’t lose any content or formatting.
With the free apps, you can read Word documents, use Excel data and present with PowerPoint. With an Office 365 subscription, you can edit and create new documents with the iPad. An Office 365 subscription not only gets you the complete Office apps for iPad, but also always-up-to-date versions of Office for PC and Mac.”
Lets se how well the App works and compare it with iWork apps. From my opinion iWork is oriented to more artistic or graphical documents and Office is oriented to more profesional documents (just right for sign contract format or budget review).
Try by yourself and tell us your experience.