The CyanogenMod team has mentioned that they will not be starting work on CyanogenMod 9 – the Ice Cream Sandwich release – until Google releases the AOSP source code that we all expect them to. I say “shocker” because they've always operated this way. They don't like half-baked ports from the SDK. AOSP makes it easier for them and gives them the best course for creating a bug-free distribution.
We'll let you know the day Google releases the ICS source code, and on that same day you can rest easy knowing the many members of the CyanogenMod team are already downloading it and coding away.
Android Phone, CyanogenMod: No ICS-based CM9 Until AOSP Source Drops [Shocker]