From their Facebook update:
The wait is over. As the web is buzzing with reports of the new iPhone 3G and iPhone 2.0 update, weâ€™re adding to the excitement with the debut of a Bible App for the iPhone, powered by YouVersion.com.
The ease of use youâ€™ve come to expect from YouVersion.com now fits in the palm of your hand. Weâ€™re thrilled to launch this new application that iPhone and iPod Touch users will be able to download for free. Itâ€™s called the Bible App and itâ€™s available now from Appleâ€™s built-in App Store.