Seems like it may be a possibility from this thread on the iCircuit forum:
Definitie plans, and even have working prototypes of an Arduino. The first version will be pretty simple – not many hardware units (PWM, etc.) Also, I’m focusing on the C language vs. C++ for programming them.
Also, I’m working on an Arduino-only app.
Lots of plans, but it’s also a lot of work. Thanks for your patience!
If you don’t know iCircuit, it’s a great app for testing out circuit ideas on your iDevice. Well worth a look for the DIY’er.