Scott Moritz from the TheStreet.com believes that an initial version of the tablet will be subsidized by Verizon; however, he has been told that the Apple and Verizon partnership "won't be as tightly integrated" as the Apple and AT&T one.
How this subsidy will work is still unclear. Since the tablet will only need a data plan the revenue earned by Verizon is much smaller then that from a typical smartphone. Thus the subsidy Verizon is willing to pay would similarly be smaller.
Moritz also reports that the tablet has been ready as a prototype for nearly a year but Apple has been reluctant to introduce the device. He suggests that with the success of the Kindle Apple may see now as a good time for the new device.