TechCrunch is reporting that an industry insider has given them some information regarding a Hulu application which could be ready before the iPad hits the market.
One rumor Ive heard from an industry insider is that Hulu is working on an iPad-friendly version of its site that should be ready by the time the iPad hits the market.
Hulu would have to encode some of its videos to H.264, fortunately, it has been doing this since the summer of 2008, so most of the videos are already in H.264. However, it does have to create a non-flash player for the iPad, which is just some of the front-end work.
TechCrunch correctly notes that the biggest hurdle would likely be producing the same look and feel with HTML5 as well as rewriting the ad code, business logic, and underlying analytics for the site. It's definitely possible but Hulu will have to decide if they think the effort is worth it.