iOS project settings Target Device iPhone + iPad does not generate iPad structure

When attempting my development for iOS is chose to set the Project Setting Target Device to iPhone + iPad as I wanted to distribute the app to both device families.
I have managed to get to the point where the iPhone part is working and wanted to test the app on an iPad simulator but when I attempted to drop the app onto the simulator I got a popup telling me that the app did not have the architecture for the iPad. Looking at the xcode project there is only the unity-iphone architecture. No iPad to be found.
I have subsequently found out that selecting iPad Only I still got a unity-iphone project!
Have I made an incorrect assumption that the selection does support both iPhone and iPad?