Microsoft Outlook is now available for Android as a preview in the Google Play Store. I just installed it on my Samsung Galaxy S3. Here’s the “Add an Account” screen. At first glance there doesn’t appear to be any integration of Outlook contacts with contacts in Android.
Hopefully they are working on that.
Here’s the link to the app on Google Play. It’s hard to find just searching on Google Play as there are other similar apps from Microsoft such as Outlook.com and OWA for Android which are different applications!