Are you ready for an Android-powered home phone? While wondering the floor of tonight’s Pepcom event, I came across the Motorola HS1001.

This gadget is basically a cordless phone that has been upgraded to support Android. The device is slated to be one of the first Android-powered home phones. The HS1001 has dual WiFi technology to connect to its base station and a home WiFi network.

Preliminary specs include:

• DSPG Arm9 240 Mhz processor
• 2.8 inch resistive touch screen (QVGA)
• 256 MB flah ROM / 128 MB RAM
• MicroSD expansion slot
• Powered by stock Android 1.6 (no Motoblur)

Motorola expects to launch the phone in the UK first, followed by a Q2 2010 United States release date. The estimated retail price is $149.

Pictured below is a non-working demo unit. We got to see a real device that was powered on, but unfortunately we were unable to film it.