Is an Office app coming to the iPad?

Microsoft is reportedly planning an Office app for the iPad to be released in 2012.

The Daily reports the software giant, which already has a number of apps for iOS devices, is adapting its Office software suite for the Apple's iPad and could price the new app at $10:

It's assumed that both of these would work with Office 365 as well as mobile versions, such as Windows Phone’s Office Hub. Because it would be compatible with these full suites rather than as stand-alone apps, the pricing will most likely be significantly lower than existing Office products. In fact, it’s likely the cost will be around the $10 price point that Apple has established for its Pages, Numbers and Keynote products.

Microsoft already supports Office for the Mac and offers some web-ready versions of Office for non-Windows PCs, but the move into a version for the popular iPad raises questions as to how Microsoft will deliver the software without harming sales of its standalone versions.

Windows and Office continue to be the company’s cash cows, with Office expected to bring in more than $15 billion in revenue in 2011. Microsoft CEO Steve Ballmer said recently that 100 million copies of Office 2010 are in use.

One concern is whether expanding to other platforms will harm or boost those Office sales. One suggestion tossed out by ZDNet's Mary Jo Foley is that Microsoft could offer a stripped down, ad-supported version of Office and Excel with the hope that consumers will eventually upgrade to the full version of the software.

With a Windows 8 tablet on the way, Microsoft must also think strategically about how it prices an Office app. A $10 price point to compete with Apple's software could force Microsoft to offer a lower-priced app for its own upcoming tablets.