Back in Feb, Citrix had announced that they will be launching a new version of their Receiver Software (an App store application), for it to be possible to run Windows 7 on an iPad making it enterprise ready.
Citrix Reciever uses software virtualization.
As per Chris Fleck's (the VP of Citrix) announcement,
"If your company has XenDesktop or XenApp you will be happy to know you will be able to use your iPad for real work as well. Windows applications run unmodified and securely in the data center, and even multiple applications at once."
Another good thing is that they have been able to make the basic gestures functional.
Another company Onlive, has announced to take cloud computing to the next level by enabling applications needing higher computing limits and requirements than what's available on the native device, to run virtually. They demonstrated running Windows 7 on the iPad along with opening Flash content rich websites on Internet Explorer browser.
This really seems to be making the virtualization going places even with iOS, iPad's native OS.