Today at new Microsoft CEO Satya Nadella press briefing Microsoft finally announced Office for iOS. Word, Excel and Powerpoint have been built from the ground up for iOS and are fully touch enabled. The apps for the iPad are free for reading and presenting content but you will need an Office 365 Subscription to create or edit documents.
From watching the presentation it looks like Microsoft have really worked hard on the UI and made a very rich Office experience, it certainly puts the pressure on for a fully touch enabled Windows Store Office app.
Office for the iPad will be available at 6pm (UK) today in the iTunes Store.