Interesting that the video is already out - when is the release supposed to be?
MichaelBilson: It wouldn't be quite the same because of the K-mount register distance, but still: Take a compact body like this and add a "tube" for the K-mount and a recessed "XS" lens in the 18-24 mm range (i.e. a lens not adding more to the camera depth than the XS40) and it would certainly be more compact than the K-01. With a thin or recessed lens mounted, it would be small indeed.
Look at the NEX-7 with 50mm vs the K-5 with FA43:
Compact Camera Meter
Without the lens hood, the K-5+FA43 is actually slightly thinner.