Update:

>> They could co-develop PPC and ARM SoCs so all they have to do is drop in whatever
>> cores the market requires.

> Yes, that's what the announced QorIQ Layerscape product line will be all about.

First chips of ARM-based QorIQ LS1 series announced:

http://media.freescale.com/phoenix.zhtml?c=196520&p=irol-newsArticle&ID=1864869

Regarding future QorIQ LS chips based on Power Architecture:

"Freescale isn’t abandoning the PowerPC architecture it has championed in the past, Bustami said, but it has decided to create a parallel ARM-based product line because of the direction the market heading."
http://gigaom.com/2013/10/16/freescale-puts-arm-cores-to-work-running-the-internet-of-things/