Today, Netflix updated their Universal iOS app for streaming Instant Watch content with support for subtitles (where available). Whether you’re watching something foreign, are hard of hearing or just think the book was better, the Netflix iOS app version 1.3 has you covered. It should be noted that not all Netflix content has subtitles to begin with, but if subtitles are available, you’ll see a caption icon on the playback controls.

Apple has been rumored to be revamping the Apple TV during tomorrow’s special event, and now Bloomberg is attempting to add some details before that happens. Their sources say that Apple’s new set top box, possibly renamed the iTV, will support Netflix and its Instant Streaming service. What they don’t venture a guess to is how…

The latest update to the Netflix app is out with full support for Instant Watch on iPhone and iPod touch. That means you can access your Netflix account anywhere you have Internet access. The app allows you to find movies or TV shows on the go, add them to your queue, and now even stream any of the Instant Watch collection. I’m still uncertain how many people really want to stream a movie or TV show to their iPhone or iPod touch and actually watch it on the device.

This year’s WWDC keynote began with updates surrounding the iPad and App Store. Steve Jobs mentioned the success of Netflix on the iPad in the recent weeks, and—with Reed Hastings on stage from Netflix—he announced that Netflix will be coming to the iPhone this Summer. Those of you with Netflix subscriptions will be able to watch movies and TV shows streaming across a wireless network straight to your iPhone.

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.