According to a well-known Verizon insider, @Black_Man_X, we could expect Android 4.0.5 in early-April, on Verizon, for their Galaxy Nexus smartphone. @Black_Man_X has revealed the news through his Twitter account (if you didn't guess by the @ in front of his nickname), he also reveals that the new build is said to be undergoing testing right now.
If the build makes it (and doesn't up up a version number), then we should expect media fixes for an audio reboot issue, as well as data falling asleep. Rumors of an Android 4.0 update for the Verizon Galaxy Nexus have popped up before, with Mobile Syrup suggesting Android 4.0.5 could've made it as early as a few weeks ago, but that obviously didn't happen.
You can rest assured that when it hits, it should make a big enough of a splash to get into the news, and we here at TweakTown will take care of you Verizon Galaxy Nexus owners by posting up news of the update when it hits.