If you are Jailbreak savvy, you would definitely not deny the fact that Jailbreaking your iPod touch or iPhone with Blackra1n is by far the easiest method. Geohot, a popular and reputable iPhone hacker has made a blog post with a screenshot which shows that he is running Blackra1n and Cydia on his iPad. Though it is not available yet, but Geohot plans to release it soon.

He is actually planning to release it after Apple releases iPhone OS 4.0, otherwise they would quickly recognize the exploit and would patch it. You could expect the jailbreak to be out this summer, soon after the iPhone OS 4.0 release.