Is there any way to use iBooks author like pages/numbers/keynote on icloud? I use iBook author for my school projects and need to collaborate with my group members. Is there any way we can do so like using icloud or google drive? 
It will be very helpful if it can display who's typing what in real time like google drive/ icould.

Thanks
No. This is not yet possible. 

Use dropbox or something similar instead. 

You can ask for new features via: 

http://www.apple.com/feedback