@Mystikmind: I guess that´s not the problem.
The problem would rather be that you handle a touchscreen-device differently; clicking on tiny icons with your fingers just wouldn´t be practical.
Also when dealing with a e.g. iPad you don´t have as big a screen as you normally have for todays desktop computers, so in the end probably the whole GUI would have to be completely rewritten as to make the game playable on a touchscreen-device.
As was already said, todays tablet-hardware isn´t fast enough though.
I mean, even on a decent computer it can take a while to compute a turn/season when you´ve got many units and cities.
Graphics performance problems would pale in comparison to that.
In the end, the whole game would likely have to be redesigned to really be useful on a tablet pc.
Honestly - this might be something for a fan-mod, perhaps in ten years from now, but nothing Stardock should spend any thoughts on.
Unless you didn´t want a more or less exact copy; a quick somehow-Elemental-like crappy-graphics portable game would be less work, though it wouldn´t have much to do with the original anymore.