Netflix on Thursday released a version of its mobile app that is compatible with the iPhone and iPod touch.

The app, which streams the company's "Watch Instantly" library, has previously only been available for the iPad, but can now be accessed on the smaller screens of the iPhone and iPod touch.

The app is free to download, but users will have to have a Netflix unlimited membership to access the company's movie library. There is no limit on how many movies you can watch, and Netflix said the app will sync with other devices – start watching on your computer, and pick up on your iPhone, for example.

Users can also re-order their movie queue on their mobile device.

I downloaded the app this morning on my iPhone 4. The log-in process timed out several times, but eventually logged me in. The top of the app displayed the "Watch Instantly" selection I'd most recently watched ("Dexter" season 2) and gave me the option to resume play. Underneath that, the app listed a few genres I apparently watch most often (visually striking, dark suspense dramas, anyone?), as well as suggestions for "Movies You'll Love," new arrivals, and recently watched.

At the bottom of the app are menu options for home, genres, search, and my instant queue. I opted to load one of the movies on my "Watch Instantly" list over 3G, and within seconds the film started up with no buffering. You might want to make sure you have an unlimited data plan before firing up the 3G option; it will apparently work over Wi-Fi as well.

The app is available now in the Apple App Store.