We'll believe it when we see it, of course. Livestation is a service that claims to be "Slingbox without the box." Once subscribed, you can watch television streamed to your computer, via peer-to-peer, from anywhere. And now they're apparently set to announce an iPhone app that will do the same thing. Like we said, it seems like a great idea -- who wouldn't want to watch some TV while waiting for the train or sitting the doctor's office -- but investment money and promises do not a working iPhone app make.
Even the Livestation rep says it's still in development right now, and he won't give a date other than "soon." I have no doubt that we'll soon see streaming TV on the iPhone -- with the growing popularity of sites like Hulu and Netflix's own streaming video service, and a similar promise of streaming shows from i.TV, it definitely seems like that's where media is headed, even portable media. But this isn't something to hold your breath for quite yet -- I'm happy with Weatherbug's already-working video weather reports.