The Linaro project seeks to unify the ARM Linux platform and last month they put out their first official release, Linaro 10.11. Linaro 11.05 is focusing upon providing improved embedded instrumentation, enhanced graphics (including embedded GPU drivers) and multimedia, and integration with Linux distributions. Linaro 11.05 will be officially released in May, one month after the Ubuntu Natty Narwhal release.
The release announcement for Linaro 11.05 Alpha 1 can be found on their mailing list. Additional information about the Linaro 11.05 release can be found on the Linaro Wiki.