First noted by Bloomberg, Google says there are now 700,000 applications available for users to download from the Google Play store. That means Google and Apple are neck-and-neck for how many applications are available on each store. Apple announced at its press event last week that it has “more than 700,000″ — nonetheless the race is still pretty close.

Many have observed that Apple’s App Store has lead to more revenue and sales than Google’s Play. Apple reported $6.5 billion paid to developers since the App Store was first introduced in 2008. Google is yet to release any similar numbers.

Google may be able to increase the number of tablet-specific apps that are available on its store with the introduction of the 10-inch Nexus 10. We’ll be on the look out to see if/when Google passes Apple.

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