With little fanfare, Netflix this morning updated its app on the iTunes Store — which previously only supported the iPad — to work on the iPhone and iPod Touch.

The app has been a long time coming. Netflix launched its iPad app earlier this year, and it quickly became one of the biggest selling points of Apple’s fledgling tablet. The company’s CEO Reed Hastings said in June that it expected to release the app this summer.

I’m not entirely certain what took the company so long to deliver the app — considering that it’s no different from the iPad app. You can browse and stream “Watch Instantly” titles, as well as add them to your queue. And before you ask, yes, the app does work over 3G. Hastings said previously that it will take advantage of Apple’s adaptive bit-rate technology to allow it to seamlessly switch between networks. As always, you need to be a Netflix subscriber with its $8.99 plan or more to stream video.

Now that AT&T is limiting the bandwidth for newer subscribers, I don’t suspect too many people will stream entire seasons of TV shows over 3G.

Next up for Netflix is an Android app — which will likely hit before the end of the year to take advantage of the holiday season — and an app for Windows Phone 7 devices.

Check out a video of the iPhone app’s user interface below (clearly someone at Netflix is a Veronica Mars fan):