According to this, yes. It will be fully compatible.
How similar will it be to the PC version? Can you open the same projects? Will it come with the same bundle of plug-ins?
"It should work identically to the PC version of SONAR, because both the Mac and PC versions use the same code. This also means 100% project file compatibility. The first free alpha version will include a subset of Cakewalk plug-ins and modules for the ProChannel, our critically acclaimed, per-track proprietary modular channel strip. It resembles an analog console and includes effects like Console Emulation of three vintage consoles, QuadCurve EQ with four modes that simulate classic console strip EQs as well as a fly-out spectrum analyzer, tube distortion, and compression including a “4K” compressor on every bus. Other DAWs let you configure how a mixer looks; SONAR lets you configure the actual mixer architecture."