The Telegraph from the UK reports (via Paid Content) that after more than a month in limbo, the music-streaming app Spotify for the iPhone has been approved. Spotify is to Europe what Rhapsody is to the U.S. -- and we even took a look at Rhapsody's iPhone offering just a couple days ago. Spotify will allow access to the service's full catalog from the iPhone, create playlists from it -- and allow offline use of those playlists. The YouTube video above gives insight into exactly how the app works. It is available for paid subscribers only. A subscription costs £9.99 per month or £119.88 per year.