Maybe it's already Saturday in the UK, or close to it: Apple has released iPhone OS 3.0.1 for iPhone, iPhone 3G & 3GS, an update that patches the phone to prevent bad actors from taking it over or taking it down with the just-demoed SMS exploit. The update weighs in at
Update with care, and let us know in the comments how the update works for you!
14:30 ET: Apple's security mailing list just delivered the notes for 3.0.1, they are reproduced in the 2nd half of this post. Also worth noting that the SMS exploit is not endemic to the iPhone alone; both Android and Windows Mobile platforms can be attacked with similar techniques, although Google tells BW that the issue on Android phones is now fixed (presumably through carrier action on T-Mobile's side, not confirmed though).