Apple today announced that YouTube is now live on Apple TV. Users can download the free software update using Apple TV’s built-in software update feature, and then navigate through YouTube’s familiar video browsing categories or search for specific videos. YouTube members can also log-in to their YouTube accounts on Apple TV to view and save their favorite videos.

iPhone users will be able to enjoy YouTube’s content on their iPhones when they begin shipping on June 29. A new Apple-designed application on iPhone will wirelessly stream YouTube’s content to iPhone over Wi-Fi or EDGE networks and play it on iPhone’s 3.5 inch display.

“iPhone delivers the best YouTube mobile experience by far,” said Steve Jobs, Apple‚Äôs CEO. “Now users can enjoy YouTube wherever they are‚Äîon their iPhone, on their Mac or on a widescreen TV in their living room with Apple TV.”

To achieve higher video quality and longer battery life on mobile devices, YouTube has begun encoding their videos in the advanced H.264 format, and iPhone will be the first mobile device to use the H.264-encoded videos. Over 10,000 videos will be available on June 29, and YouTube will be adding more each week until their full catalog of videos is available in the H.264 format this fall.

iPhone will include the built-in Apple-designed YouTube application when it is available in the US on June 29, 2007 in a 4GB model for $499 (US) and an 8GB model for $599 (US).

Apple TV users can download the free software update using Apple TV’s built-in software update feature.