According to Silicon Alley Insider, Hulu is hard at work on their on iphone app.  I’m hoping they finally get it right because there are other video apps for the iphone and they fall short.

Hulu is in the process of developing an app for Apple’s (AAPL) iPhone and iPod touch, we have learned from a plugged-in industry executive. The app is coming soon (within a few months) and is “badass” — as excellent as Hulu’s Web site. Video will work over both wi-fi and 3G, we’re told.

We’ll keep you posted as we hear more about it.