Damn. This rules.

iOS: You could already watch Netflix on your iPad—or an iPhone with a clever hack—but now the popular streaming service is available as an official iPhone app. That means any of the supported Watch Instantly movie or TV titles in your Netflix queue are now available on any iOS device over 3G or Wi-Fi.

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http://lifehacker.com/5622507/netflix-now-available-for-iphone-and-ipod-touch