Quote Originally Posted by harrybarracuda
Android codenamed Ice Cream Sandwich
from the MWC 11 keynote
12:31PM Q: "People are confused about different versions." This one's about 2.3, 3.0, and Chrome OS.

A: "Today I'll use the commonly used names. We have OS called gingerbread for phones, we have an OS being previewed now for tablets called Honeycomb. The two of them... you can imagine the follow up will start with an I, be named after dessert, and will combine these two." Occur roughly six months cycle.
Live from Eric Schmidt's MWC 2011 keynote -- Engadget

which means hopefully those who flash their phones will get to enjoy it as soon as it is released