Gizmodo and other techmedia outlets are reporting that they just received an invitation from Apple. Everyone’s favorite computer maker to love or hate will be holding an event on April 8 at 10:00AM Pacific time to showcase the next generation iPhone software. The announcement comes as a surprise. While everyone was busy drooling over the iPad, iPhone OS 4 flew mostly under the radar. So what can we expect?

The biggest thing on the rumor menu is multitasking. As of OS 3.x you can only run one app at a time on the iPhone, when you close an app it shuts down and when you open it up again it needs to load once more. Apple Insider says that it will look something like Exposé, the window management system on Mac OS X that allows you to view all open windows at the same time.

Other predictions being thrown around include some UI polish.The iPhone OS has fallen behind its competitors in the way it handles notifications and its lack of useful information on the home screen. The Boy Genius Report says the the new update will “make [the iPhone and iPod Touch] more like full fledged computers.” No word yet on how this update will affect the iPad but it likely will since it runs on the same OS as the iPhone.

What would you like to see in the next iteration of the iPhone OS? Let us know in the comments and stay posted for more news as it comes out.