When Apple released the Smart Cover, it wasn't too "smart" at all, basically just a cover with magnets supporting the iPad's design. Shift a few year's forward, Microsoft stepped into the tablet game with Touch Cover for its Surface line. Microsoft's Touch Cover has been a big selling point for the low-selling tablet, but now it seems like Apple wants a piece of the pie.
According to ex-Apple Developer Relations employee Jamie Ryan, Apple has been testing a Smart Cover for the new iPads with an integrated touch keyboard:
Ryan claims that these keyboard Smart Covers are being tested for the iPad "largey" to help distinguish the product away from the iPad Mini. He also notes that these covers were still in prototype stages when first heard of and doesn't know if they will be ready by tomorrow's big iPad event. It would be nice to see Apple do something extra this year, such as a keyboard cover, but all will be revealed tomorrow, October 22nd at 10AM PST.
Source: Apple Testing Keyboard Case for Potential Release Alongside iPad 5 - Mac Rumors