
Source:
http://www.looprumors.com/index.php?/posts/iphone_v_for_verizon/
"LOOPRumors has learned that Apple is planning on naming the iPhone 5 the iPhone V, using the Roman numeral V (as with OS X) rather than the Aramaic number 5. The V would have a double entendre, however, as the V would represent a CDMA version of the iPhone which would work on the Verizon network.
Our source revealed that the iPhone V will be announced within 3-6 months. This timeframe seems relatively soon as it comes on the heals of the iPhone 4 release, however, the problematic iPhone 4s antenna and September 30th deadline of the free bumper cases make the timing more credible."