, Hulu, which is jointly owned by NBC and Fox, is in the process of bringing its streaming television catalog to iPhone. And, according to an industry executive that spoke with SAI, it's going to be--and, no, we didn't make this up--"badass."

As the Insider points out, there are other video-streaming apps for the iPhone, including and, of course, the default YouTube application included on every device for all your skateboarding dog and rickrolling needs. But if Hulu's application can mimic the simplicity and effectiveness of its Web site (not to mention leveraging its brand recognition), it does have a shot at becoming the preeminent source for streaming video on the iPhone.

Would the app work over both Wi-Fi and the 3G cell connection? Silicon Alley Insider says yes, though that seems iffy: AT&T hasn't always been thrilled with (or potentially compete with ).

Watching television on cell phones is already popular in other countries, such as Japan, and wireless providers have been trying to push it in the U.S, though it has yet to catch on, largely due to the added expense and limited content. A good Hulu app could go a long way towards changing that, especially if the company can manage to . We'll tamp down on our excitement , but just imagine: the ability to watch no matter where we are? We have seen the future and it is