According to this article, the film version of On The Road is unlikely to makes its debut in May at Cannes this year. The article also contains some additional information of interest to fans. For example, contrary to early expectations, it will not be in black-and-white (good choice by director Salles). It features a great supporting cast (Viggo Mortensen, Steve Buscemi, Amy Adams, Alice Braga, to mention a few). They brought in some beat generation writings (Ginsberg, Burroughs) that weren't in Jack's novel. And, they tried to create 3-dimensional women characters (more kudos to Salles for that).
I, for one, cannot wait.