Hi there,
Unfortunately, IPS technology just isn't fast enough (at least in its current implementation) to provide the massive 120Hz refresh rate which 3D systems demand. Hence why we only see TN panels in 120Hz (3D) monitors, as they are so darn quick (but are lacking in other key areas compared to IPS). Hence I wouldn't hold your breath waiting for one - it is more likely that affordable OLED monitors (which will be capable of 3D and offer amazing image quality) will be on the market before you see a true 120Hz IPS.
If you do see a 120Hz IPS advertised, look into it closely and see if it is true 120Hz (if it does then it should also advertise it as "3D ready") as there are a few "120Hz" IPS monitors coming to the market that use the interpolation technology usually seen in HDTVs which isn't true 120Hz and won't work with 3D.