Isn't it nice how Apple computers don't get viruses or malicious code? It's because there aren't enough of them out there for anyone to care. On the other hand, there are a lot of iPhones, and now we know there are things that can be done to an iPhone to make them really interesting. Charlie Miller, a security researcher had this to say:
The SMS vulnerability allows an attacker to run software code on the phone that is sent by SMS over a mobile operator's network. The malicious code could include commands to monitor the location of the phone using GPS, turn on the phone's microphone to eavesdrop on conversations, or make the phone join a distributed denial of service attack or a botnet.
Apple is trying to fix the problem, and we expect it to be patched rather quickly.