Want to watch live TV on your iPhone. Well now you can courtesy of Orb as long as you have a jailbroken iPhone.

Update: For those of you not wishing to jailbreak your iPhone OrbLive is now an official iPhone App that can be downloaded from the app store.

They’ve also optimized media streaming so it works great over WiFi and even over AT&T, O2, and Vodafone.

Here’s what you need to do.

Step 1: On your PC

Works on Windows PCs or on Macs running Parallels or Fusion

Install the Orb streaming application
Create your login and password
To watch live TV or a webcam you will need a TV turner card or webcam attached to your PC
Leave your PC on and connected to the Internet so it can stream stuff to your iPhone or iPod Touch

Step 2: On your jailbroken iPhone

You must have a jailbroken iPhone to get live TV

Click on the Installer icon in your iPhone app menu
Click the Install icon at the bottom
Scroll through the list of categories and click on Multimedia
Click on OrbLive
Click Install at top right
Click Install in the popup that appears
When the package has installed, go to your
iPhone app menu and click the OrbLive icon
Enter the login and password you created when you installed Orb on your PC
Enjoy!

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For more details visit Orb’s website.

Update: For those of you not wishing to jailbreak your iPhone OrbLive is now an official iPhone App that can be downloaded from the app store.