Is it possible to share reminders?

I really like the reminders feature in iOS 5, especially the geo-tripping reminders that will alert you when you are at, or leave, specific locations.

I was disappointed, however, that you could not have 'shared reminders list'. For instance a shopping list that my wife and I could both use and contribute to that would alert us whenever we are at the grocery store.

Is there any method or workaround to accomplish this? OR is there an application that does this geo-tripping + the ability to share across multiple users?

Actually, you can share a reminders list, as long as the person you want to share with has their own iCloud account. You can share one of your reminders lists either from iCloud.com or from the Reminders app in Mountain Lion.

Either way, the process is the same: Hover over the name of a list for a second, and a small icon will appear. Click on it, then type in the name or e-mail address of the person you want to share the list with.

Since Brant Bobby posted his answer (which was great) the iCloud.com site has changed and you can no longer create shared Reminders lists, but this is expected to return in OS X 10.8.2 & iOS 6.

It looks like as of 2012-10-15 the ability to share Reminders has been added back to the iCloud web app.