Just when is an Office app coming to the iPad? A new report claims that Microsoft has already built the application but is figuring out when to release it. Why are they sitting on it?

The New York Times reports that Microsoft has already developed the Office iPad app, but is scratching its head at what to do in terms of a launch date and price point.

There are already several Office imitations available on the iPad. There's QuickOffice, owned by Google, and Apple's own iWork suite of office applications like Pages, Numbers and Keynote. Prices range from free and go up to $19.99.

Microsoft probably wants to wait a while so that the release of Windows 8 tablet sales aren't affected by their official iPad app.