Both teams are participating in the 2K Sports Classic, meaning the two could meet in MSG.
UConn has agreed to be one of the "host" teams in next fall's 2K Sports Classic (which was formerly Coaches vs. Cancer). That means they'll spend part of next November hosting a pair of games on campus before heading to the tournament final in Madison Square Garden. In and of itself that's not huge news, as UConn participates in these early-season tournaments every year. But this is news: one of the other hosts is Boston College, meaning the Huskies and Eagles could potentially meet on the hardwood for the first time in almost a decade.
The two aren't guaranteed to meet as there will be four teams at MSG and each team only gets to play two of the other three, but since the two haven't met since 2005 there will be plenty of fans hoping their paths cross. Washington is also a host team, and there will presumably be a fourth host before all is said and done.
The regional rounds will be played between November 15 and 18. The championship rounds at MSG will be on November 21 and 22.
UPDATE: 2K Sports has apparently taken down the informational pdf which advertised the game, so I'm guessing this news got out earlier than planned. Additionally, the @2KSportsClassic twitter account started following a lot of Indiana writers today (along with UConn and BC writers), so IU seems like a reasonable bet to be the fourth team.