Since the 2007-2008 Pakistan tour of India, these two nations have not been involved in a bilateral series. Though, they have played in non bilateral series against one another, the most famous one being the India - Pakistan World Cup Semi-Finals last year, 2011, where India turned victorious to reach the finals of the World Cup. They also played during the Asia Cup.
It is the fans that have lost out in witnessing one of the greatest cricketing rivalries. The series may not be a long one, as there are no Test matches involved but it is a positive sign for both the countries as it would definitely open the doors for future series between the two nations.