Yes, it’s true.  Here is a list of some of the main features of SkyDrive for Android:

• Access your SkyDrive—documents, photos, and other files, plus the files other people have shared with you.
• View recently used documents.
• Choose multiple photos or videos to upload from your phone.
• Share your files and photos—send a link in email or in another app.
• Open your SkyDrive files from other Android apps.
• Easily manage your files—delete or create new folders.

Go get it @ https://play.google.com/store/apps/details?id=com.microsoft.skydrive. 

See the Windows team post at http://windowsteamblog.com/skydrive/b/skydrive/archive/2012/08/28/skydrive-for-android-phones-now-available.aspx.