I have to say, I'm surprised - I didn't think the iPhone would come to Verizon until LTE was rolled out - but the WSJ says that a CDMA based device is coming:
The iPhone is finally coming to Verizon Wireless. The largest U.S. wireless carrier will make the long-awaited announcement at an event Tuesday in New York City, a person familiar with the matter said Friday.
Personally, I'd rather stay with the GSM based phone; if I go overseas again, it will actually work. But that won't matter to a lot of people.
Here's what I'll be looking for: will the iPhone on Verizon sport a Verizon logo, or will it be like the one I have - and just have the Apple moniker? Mind you, I won't be surprised if there is no iPhone on Verizon announcement after all :)
Update: Engadget has a piece on this, and makes some good points about how this may not be the ideal time to buy a Verizon iPhone - you may well want to wait for summer. Follow the link, and read all the way to the end.