iTunes 11 was (oddly) announced way back in September alongside the iPhone 5. At the time, it was slated for an October release – obviously, that never happened and Apple released a statement saying that iTunes 11 was taking more time, and that it would be released in November.
And so the wait continued – iTunes 11 was promised to be a significant rewrite of the application, both in terms of the UI and the underlying code. Finally, it seems as if the release is coming soon. According to MacRumors, Apple is notifying their music partners that iTunes 11 will be released in “the next days.” iTunes 11 features a UI overhaul of the store, and musicians are advised to submit updated photos to adhere to the new galleries. It’s unclear what Apple means exactly be “the next days,” though a release before next week seems unlikely, as much of Apple is on Holiday for Thanksgiving here in the United States. With that in mind, I would look for the release being sometime in the middle of next week – likely Wednesday.