Simplify Media for iPhone
To get started you'll need to download the Simplify Media Mac client as well as register for a free account. Then install the iPhone client on your mobile device and your home Mac should show up as a streaming source. In addition to your home machine, you can connect to up to 30 friends also running the cross-platform software.
Simplify Media for Mac is a free download. Only the first 100,000 copies of the iPhone version are free to download, after that it will be $3.99.
[via Gizmodo]