Is an hdmi ready, android based tablet capable of being utilized as a display for another device?

I've been searching the web since late 2011, and everyone seems to mistake this for a hardware problem. To quote one such misinterpretation: "I guess we'll just have to wait for an integrated hdmi in for this capability." Hdmi is multidirectional unlike traditional, unidirectional AV component hookups. The hi-def display, stereo output and hdmi would/should accommodate all the basic hardware needs to hook it up to an Xbox360, PS3, PC, Mac or even a bluray/DVD player as a functioning display device. I guess my thesis question is if there is any such software I could utilize to make this function a reality? Any help and/or ideas would be greatly appreciated.