Netflix coming (Instantly) to an iPhone near you, soon?

Love Netflix’s Watch Instantly feature? What Netflix subscriber doesn’t? The feature is awesome for really getting a ton of use out of your monthly subscription, given that you have the time next to your computer. If time next to the computer is an issue, then perhaps it will excite you to read the report from Multichannel News about the possibility of Netflix making the Watch Instantly feature into an iPhone app.

Straight from the source at Multichannel News:

Netflix, ahead of pay-TV providers, continues extending its own “TV Everywhere” strategy to more devices.

Next up: The company will soon offer the Watch Instantly video-streaming feature on Apple iPhones and iPod Touch devices and the Nintendo Wii gaming console, according to an industry executive familiar with Netflix’s plans. (Netflix wouldn’t confirm the info, with a rep saying it declines to comment on “rumors or speculation.”)

It’s likely that this app, should it ever see the light of day, would be restricted to WiFi use only (like Skype and other similarly high bandwidth consuming apps) since AT&T’s network apparently breaks when used. Even still, this is an exciting rumor. WiFi is everywhere, so this would be a great app for watching an episode of your favorite TV show on the go when you have 20 minutes of downtime.

Would you use Netflix’s Watch Instantly app (assuming you have an applicable Netflix account)?