Update: The Hulu Plus application [iTunes Link - Free] is now available within the App Store. We viewed some of the free content on a iPhone 4 over AT&T's 3G network and it streamed flawlessly.

Today that rumor of Hulu introducing a premium paid service has come true as they have officially announced Hulu Plus. It will run you a cool $9.99/month and that will give you streaming access - via Wi-Fi or 3G - to entire seasons of shows that are already available on the free web service along with other programming that is not available on Hulu's website. And the good news is it's just not for iPads but rather every device in the iOS family - iPod touch, iPhone, and iPad. There will also be future support for a countless number of other devices such as the Playstation 3 (July) and Xbox 360 (2011). If this sounds like your cup of tea be sure to sign up for the preview invite here.

How many of you are getting ready to do away with your cable or satellite TV service?

Video after the break!

[Thanks to all of you who sent this in!]