Watson’s nerve center is 10 racks of IBM Power750 servers running in Yorktown Heights, New York, that have the same processing power as 6,000 desktop computers. Even though most of the computations occur at the data center, a Watson smartphone application would still consume too much power for it to be practical today.
So not actually a pocket-sized Watson, but a smartphone app that will connect to Watson. As long as you've got reliable internet access.