Congratulations to everyone who figured it out, and especially to Glenn from Alaska who was the first to email me with the correct answer, and wins $50. In his words:

"The ball makes an infinite number of progressively smaller bounces in a finite amount of time, and then proceeds to slide (roll?) along the ground at a constant speed."

I was just looking for "infinite number of bounces in a finite amount of time/distance".

I think it's a nice puzzle, because it illustrates Zeno's 'paradox', with a simple model of an everyday occurrence. The answer makes sense, but it is not obvious unless you understand limits. I thought of this puzzle while playing with a pool cue, you can really hear/feel them bouncing faster and faster.