Netflix to offer Watch Instantly feature on the iPhone?

We know that it would be a dream to one day be able to watch movies from Netflix directly on their iPhone. The rumors have it that a union between the two companies may soon come true. Netflix already offers its Watch Instantly feature to all their subscribers at no additional costs. Popular media mediums are already capable of streaming televisions shows and movies from Netflix's vast library. Devices like the XBOX 360, TiVo,PCs, and Macs already have the ability to stream. The source of the news comes from “an industry executive familiar with Netflix's plans.” In addition to the iPhone, it's speculated to be offered for the iPod Touch and Nintendo Wii as well. One thing to keep in mind that it will most likely only work through Wi-Fi connectivity – it'd probably place a huge strain on AT&T's 3G network. Right now there are some apps that allow Netflix subscribers to manage their movie queues directly on their device. This possible move has it's pros and cons – possibly conflicting with iTunes' pay per view pricing.

source: Multichannel News via AppleInsider