I have the Waterfield SFBags Muzetto bag and l highly recommend it. It is top quality materials and workmanship. My iPad fit in it perfectly, and I think the iPad2 will also.
http://sfbags.com/products/muzetto/muzetto.php
P.S.: You may also want to scan down the page slightly and check out the SF Bags Smart Case which they say can hold an iPad2 and its smart cover. I'm thinking of getting one of these as well.