This is a story based on sources so treat it accordingly, though it seems to follow basic logic and common sense. Apple is currently working on the next version of iTunes which will reportedly offer support for the next mobile OS version, iOS 6.
According to reports, the new iTunes is already being internally seeded but there’s also a chance that whenever iOS 6 lands probably previewed at WWDC and launched with the next iPhone — Apple will likely push out a version 10.x for compatibility issues until the final version of iTunes 11 is ready. If rumors turn out to be true, we should expect a visual overhaul of both the application as well as iTunes Store and Apple Store, which would happen sometime “between this summer and the fall”.
9to5mac has it on good authority that iTunes 11 “includes an increased presence of iCloud integration” and a dedicated iCloud settings section — where you can play with iTunes Match, iTunes in the Cloud, iCloud iOS device backups and more — testifies just for that.