It depends on whether or not you can create aggregate audio devices in iOS the way you can on Mac OS X... they both use CoreAudio so theoretically it's possible, just depends on whether "there's an app for that" or not lol.
But theoretically you could use the NOX404 as one channel, as the NOX404 actually has USB audio support, but you'd need the Camera Kit adapter to hook up the USB input from the NOX404 to your iPad. You'd then use the headphone out as your second channel.
But still, wait for clarification from the iPad guys here as to whether or not you can aggregate devices or not.
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