Before you can say "frozen dairy confection" Android ICS hits 4.0.3

The release includes many updates that give developers more power, including APIs that give apps more access to the calendar, to social functions, and to the camera, among others. Google’s official Android developers blog urged app-makers to update to the newest version of the SDK.
As for proud Galaxy Nexus owners? No word yet on when to expect an update, but in the past Google has rolled incremental updates out within a couple weeks. Of course network carriers like Verizon will need to certify them, so how long a wait you have may depend on whose network you happen to reside on.