"Nike and Apple worked with major gym equipment manufacturers to make their cardio equipment Nike + iPod compatible so gym members can easily track and record workouts on cardio equipment like treadmills, stair steppers, elliptical trainers and stationary bikes."
The press release only mentions the iPod nano. In fact, that may be all that we're talking about here. Nevertheless, July is synonymous with the iPhone 3G, 2.0 firmware, and App Store launches and there's that little ol' patent application (the source of the picture above) which describes leveraging the iPhone's sensors to turn it into a "lifestyle companion." Nike of course, already confirmed that its Plus system would be extending to the iPhone and iPod touch sometime in the future. July seems as good a time as any don't you think?