Apple today updated GarageBand for iOS, adding new collaboration and editing features for musicians, and social network sharing that could be useful for podcasters.

Here are the highlights:

• GarageBand 1.2 introduces Jam Session, a feature that lets groups of people wirelessly connect their iOS devices to play instruments and record live music together. Jam Session automatically synchronizes the tempo, key and chords of your Touch Instruments. After jamming, everyone’s tracks are automatically collected on your iOS device for you to edit and mix.
• GarageBand also introduces Smart Strings, a new Touch Instrument that allows you to ‘play’ a string orchestra with one finger.
• The new Note Editor is probably the most welcome addition. It allows you to fine tune a Touch Instrument recording instead of replaying it from scratch.
• Integration with iCloud keeps your GarageBand songs up to date across your iOS devices, and you can share your finished songs directly to Facebook, YouTube and SoundCloud.

GarageBand 1.2 will be released today for $4.99. Updates are available for free to existing customers.