Sling Media has a really cool product that's long been available for other devices. It allows you to watch all of the content on your TV on your device — live. You connect their Slingbox (which costs anywhere from $180-300) to your TV inputs (such as cable or satellite) and to your Internet connection. Then with Sling Media software on your device, you're able to access your TV channels on your iPhone wherever you are. Here's their press release, which says that it's expected to be released the first quarter of this year.