You may not have an iPhone 4 yet -- unless you lucked out on delivery, you're probably still waiting in line -- but if you did receive Cupertino's latest opinion polarizing handset, you might have noticed it doesn't come with a tool to edit all the 720p footage of jealous friends that you just shot. Thankfully that can be remedied with a portrait of President Lincoln, as iMovie for iPhone just went live -- head on over to the App Store and drop your $4.99.

Update: Oddly enough, we're not actually seeing iMovie in the App Store on our iPhone 4 -- only in the desktop client.

[Thanks, Joel]

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