When will Apple release the iRing?

OK, this is just me being silly, but as technology gets more sophisticated, it also seems to be getting smaller. Apple’s recent iPad reveal aside, cell phones started off as 20 lb. bags and now are a few ounces that clip to your belt or rest in your purse. How much smaller can they get? Will be able to walk into some orange county jewelry store and buy a necklace, bracelet or ring with an AT&T nationwide calling plan? I gues it would give new meaning to the term “ring tone.”