We knew it was coming! Speck’s PixelSkin HD Wrap case for iPad 2 is the first case to emulate the design of Apple’s iPad Smart Cover that we just reviewed. Granted, Speck’s case doesn’t feature the same built-in magnets, but instead its front cover stays close via a micro-suction, and like the Smart Cover, its cover is also able to fold into a viewing and typing stand. The PixelSkin HD Wrap will be available soon in a choice of three colors – pink, cobalt and black with a glossy-matte finish. Each will retail for $49.95 and they certainly do make a decent iPad Smart Cover alternative.