A coset model based on the hyperbolic Kac-Moody algebra E10 has been conjectured to underlie 11-dimensional supergravity and M theory. In this note we study the canonical structure of the bosonic model for finite- and infinite-dimensional groups. In the case of finite-dimensional groups like GL(n) we exhibit a convenient set of variables with Borel-type canonical brackets. The generalization to the Kac-Moody case requires a proper treatment of the imaginary roots that remains elusive. As a second result, we show that the supersymmetry constraint of D=11 supergravity can be rewritten in a suggestive way using E10 algebra data. Combined with the canonical structure, this rewriting explains the previously observed association of the canonical ...