Rumor: Apple testing new MacBook Air powered by same A5 processor as iPad 2
appleinsider.com
appleinsider.com
What strikes me as weird is that the source couldn't pinpoint if it was iOS or MacOS, which is cool because it means it looked completely different that both (a good sign that Apple is not settling down).
Such a thing may not even be pratical, but seems more likely to me than Apple dropping Sandy Bridge processors for ARM.