As Shane pointed out, where things stand at the moment, GPLv3 does indeed address the Microsoft/Novell deal. InformationWeek confirms this as well:

The final draft of GPLv3 states that companies that distribute open-source software cannot at the same time pursue patent claims against users of that software.

Mind you, this is "last call" draft. You may also wish to have a look at my most recent comment because Reuters is apparently making stuff up (again!).

Also, finally available to non-subscribers is a summary of the Novell/Microsoft session at OSBC (from lwn.net). You may wish to take a look at this.

The 2007 Open Source Business Conference featured a panel discussion on the question of whether the Microsoft/Novell agreement is good for open source or not. Your editor was asked to sit on this panel and try to represent the community's point of view - as if the community has a single point of view.