I'm nearly certain that if you have an iPad on Verizon with the share everything plan, you can upgrade that to the iPhone 5. Then you just switch the new iPhone to whatever line you want. The iPad will just be stuck in a two year contract at $10/mo.
I am going to be trying this as it says I am eligible for an upgrade on my ipad and that I can transfer it to my iphone.
not going to work lol
Why not? It works and Verizon reps have confirmed it. You can upgrade from Verizon, transfer the iPad upgrade to your phone and you are set. Your iPad is locked for 2 years.