Netflix just released an app for iPhone and iPod Touch which allows users to stream the company’s “Watch Instantly” library. This was only available for iPad, but now it’s available for iPhone and iPod Touch.Netflix for iPhone

The app is free to download. In order to access the Netflix movie library, users will have to have a Netflix unlimited membership which starts at $8.99 a month. There is no limit on how many movies you can watch.

iPhone and IPod Touch users can also re-order their movie queue on their mobile device. I know my wife just loves moving her movies up in queue while putting mine at the bottom.

It’s great that this new app is available, but to watch it on such a small screen really takes away the viewing experience. I would rather watch movies on my big screen TV or if I had to, I would be alright viewing it on an iPad.

I gave this new app a try and selected one of the movies on my “Watch Instantly” list and was amazed how fast the movie started over 3G. One note – You should check to make sure your data plan is unlimited.

You can watch movies instantly over Wi-Fi as well.

The app is available now in the Apple App Store.