This may be a case of putting two and two together, and getting five but….you have to wonder whether Steve Ballmer has deliberately tipped his hand about Microsoft’s interest in Twitter.

After a speech at Stanford, Ballmer told CNet’s Ina Fried that Microsoft needs to be “more disruptive” about search. It’s an interesting proposition depending on how Microsoft defines “disruptive”.

One way to interpret it is doing something like acquiring Twitter, which is aggressively starting to introduce new search features such as indexing links within updates and working on a “reputation” system for users who insert links into updates.

Silicon Alley Insider’s Nicholas Carlson argues a Microsoft-Twitter deal makes sense. Among the five reasons to support the thesis is that “We believe Twitter is the first startup since Google to have created a new and popular way for people to use the Internet to discover content and research products they want to buy. It’s created a new kind of search.”

If Microsoft is serious about the search market despite its struggles to close the gap between itself and Google, then acquiring Twitter would be the right strategic move. (And maybe it should acquire Wolfram as well)

That said, Microsoft will likely have to pay through the nose for Twitter – say $1-billion to $1.5-billion – given how Biz Stone and Evan Williams (and their investors) appear content to bide their time until the right offer comes along.

Then again, Microsoft coughed up $240-million for a tiny slice (1.6%) of Facebook so spending a $1-billion or so on Twitter shouldn’t be too much of a strategic splurge.

Technorati Tags: microsoft, steve ballmer, twitter