We've been hearing reports of a version of Microsoft Office for the iPad inparticular for so long now, it's still pretty remarkable we haven't seen anything, yet. A more recent report suggested that it could actually appear before the Windows 8 dedicated version, and this would seem to back up those claims.
Sure, an iOS app probably isn't Nadella's first priority having taken the reigns at Microsoft. But if it's ready to go, it seems pretty ridiculous that Microsoft aren't just releasing it. There is still a market for Office, it's still an important product and it's something that a large number of global iPhone and iPad users would download in a heartbeat.