Ustream has developed an application for Apple’s iPhone that allows users to watch Ustream content anywhere.

Accordingly, users will be able to watch the Inauguration live on Ustream with chat:

Direct link to video here.

Ustream has a limited number of beta invites for the app at this time. Email to get Ustream’s viewing application on your iPhone.

[Thanks to MacDailyNews Reader "Dirty Pierre le Punk" for the heads up.]