Right, that's similar to what I said, except I suggested that maybe it was a discrete component that does not replace the Xeon processor at all. After all, why get rid of the fastest scalar engine in the system and replace it with a slower one, if all you need is the additional accelerator? A stand-alone IP is cheaper and lower power, and good software can hide the latency of a discrete IP (just look at what has been accomplished via discrete graphics).
Intel will have Broadwell SoC out next year and I'm sure Intel would happily build a variant with anybody's custom accelerator block - as long as they've got sufficient scale.