I just got this in an Email from a Verizon rep I messaged:
Good afternoon Daniel,
My name is Steve and it will be my pleasure to provide you with information on sending and receiving text messages to a phone in Canada.
I am happy to inform you that if you are sending and receiving text messages to a U.S. cell phone that is in Canada then your texting will be unlimited and there is no extra charge. If you are sending text messages to a phone that is not a U.S. cell phone (Canadian cell phone w/Canadian cell phone service) then you will be charged $.25 for every message you send and $.20 for every message you receive.
Picture messaging is not included in your allowance. If you send or receive a picture message it will be $.25 per message regardless of if the phone you are contacting is a U.S. or Canadian phone.
I have included a direct link to our web site as a confirmation of the information I shared with you today.
We appreciate you taking the time to contact us via email and I hope you enjoy the rest of your week!
Servicio al Cliente