Intel already did this with Clarkdale last year. What remains to be seen is whether AMD's desktop chips will include a graphics chip that is equivalent to what Sandy Bridge has now, or faster.
The laptop version is already out, it's called Llano. The Desktop part is called Bulldozer and will be out.. not very soon...
The Southern Islands changes that article talks about is more related to non-graphics capabilities of graphics cards. Even Intel has a graphics card now that does the same thing - except it doesn't even do graphics! I wrote about it a bit today here:
Intel Knight’s Ferry Graphics Card
