It's almost here! Sources report that Ion Audio's iCade arcade cabinet for the iPad has passed FCC approval, just in time for the planned release on May 31. The cabinet was originally seen as an April Fool's Day joke on ThinkGeek, but in the past few years, it's steadily moved towards reality and will soon be available for US$100 from that site, along with partners Ion Audio and Atari, who've already released over 100 retro games that are ready to be played on it.
One interesting note: the cabinet will apparently be powered not just by the dock connector on the iPad, but with two AA batteries as well. That's only a minor inconvenience (and a small price to pay for having a fully-working set of arcade buttons and a joystiq to play iPad games with), so it shouldn't stop retro-loving iPad gamers from grabbing this one when it finally becomes real at the end of May.