Thanks to the Linked In profile of the Ultima Forever: Quest for the Avatar producer, we have some additional, official, confirmation that work was done, or is being done, on an Android version. It makes sense, the game is heavy on the touch interface, and while the iPad is a very desirable platform to develop on, and has a built-in payment/micro-payment system, there are enough Android devices out there to make it worthwhile.

We also learned that they have been working with Live Gamer, a micro-transaction, in-game payment, and advertising company, which maybe tied to the desktop side of micro-transactions.

You can read the full details on the Ultima Forever portal.