From what I understand, the basic framework is there, but it's still in development. The programming language is entirely different from iPhone's standards, so some cross-platform work would need to be done.
On top of that, the Android Marketplace is a rather lack-luster and dry place. Not much money is being made there due to the "open-ness" that is allowed. Granted, I love my Android and would see Graal being there as a totally positive thing, but viewed from a company's point, I can definitely see where it is an abyss of doom and destruction.
Due to the open policy of Androids Marketplace, just about anyone is able to upload and sell an App - which has led to a lot of unregulated apps that turn your phone into a paperweight (viruses, scams, keyloggers, information hacking, etc.). So right now, until Android gets it's act together, I can't say that I PERSONALLY see Graal opening up shop there.
That, and the vast array of phones that support Andriod will make hardware spec's hard to regulate or include.
IMO