Moko Smart Cover
If the HTC Magic Cover priced at almost $40 is too much for you, others offer something extremely similar for less. The Moko Smart Cover is one worth checking out. It comes in 6 colors and features the same magnetic closing mechanisim as well as the magnetic wake/sleep feature, and is made with a durable PU leather material on the outside with a soft inner lining to protect the display.
It folds into a stand just like the official Google/HTC case, and can be found for much less.