There's no reason to believe this wireless update feature will be limited to Verizon, mind you -- that's just where the informants are coming from in this instance -- though Apple will almost certainly have to alter the file sizes of its updates. We can't think of many carriers who'll be happy to push more than half a gigabyte of data per user per update. Additionally, since iTunes currently acts as the major backup hub, 9to5Mac speculates Cupertino must be working on a cloud backup service as well, which would seem a very sensible idea. Of course, that doesn't paint a very happy or busy future for iTunes, but so what?
*Verizon is currently in the process of acquiring AOL, Engadget's parent company. However, Engadget maintains full editorial control, and Verizon will have to pry it from our cold, dead hands.