As you probably know by now, the iPad mini finally materialized this morning. Apple’s SVP of Marketing Phil Schiller unveiled the long-rumored tablet at the company’s San Jose media event.

Pre-orders begin this Friday, October 26th, and Wi-Fi models will start shipping on November 2nd. And if you’re looking for a way to protect your $300 investment, Apple has you covered…

As expected, Apple introduced new Smart Covers today to go along with its new, smaller tablet. They’ll come in 6 polyurethane flavors including Blue, Green, Pink, Grey, Black, and (Prodect) Red.

The Covers will act just like their larger siblings. They’ll attach to your iPad mini via magnets, and will wake your tablet on open and put it back to sleep on close. And yes, they will double as stands.

Also like the larger version, the iPad mini Smart Covers will retail for a cool $39. There is currently no purchase option, but we assume they’ll become available this Friday for pre-ordering.

It’s actually pretty impressive that Apple was able to fit all of the necessary magnets into the smaller tablet, which is just over 7 millimeters thick. And I’m sure that many users will appreciate it.

What do you think? Yes or no on Smart Covers for iPad mini?