Eye TV has updates for iPhone, iPod Touch and iPad. This application is a must have if you want to watch, record and enjoy live TV on your smart phone via a 3G or Wi-Fi connection.

It’s a portable TV; whenever you feel the need to watch your favorite show, it’s there in the palm of your hand.

Eye TV lets you view TV recordings wherever you are. Since it provides a TV guide you can choose whether you record or schedule the show you are interested in. You can simply browse the Program Guide to view the details and use the iPhone as a remote control for home recording.

You can stream live TV signals over Wi-Fi and 3G connections with this version of Eye TV. The 3G option wasn’t officially available before, that was the reason why the app was temporarily withdrawn from the App Store. AT&T, the iPhone service provider started to allow applications to stream video over 3G earlier this year.

When it comes to setup, it’s really easy, according to Elgato. No configuration is needed on a local Wi-Fi connection, simply turn on your iPhone sharing in the Eye TV’s preference window.

Elgato allows you to try the application before you decide to buy. The Live 3G web application runs in the Safari browser on your iPhone, so live TV and TV recordings are available anywhere.

The app is available in Apple’s App Store for only $4.99

Eye TV for iPhone