Today, the first day of April, PalmOne announced that it plans to acquire Iraq for an undisclosed amount of cash and stock. PalmOne is the maker of the Zire and Tungsten PDAs and Treo smartphones, while Iraq is a fledgeling middle-eastern Democracy recovering from decades of tyrants, economic sanctions, and war.

“This is a wonderful opportunity for PalmOne to diversify into fighting stubborn insurgencies and nation-building,” said one PalmOne executive. “After all, it’s not like the PDA industry has any better prospects at this point.”

The deal must still receive a final go-ahead from PalmOne stockholders and U.S. regulators, both of whom are expected to approve.