This particular news was actually announced by SEGA back in January during CES, but it slipped by most of my sources until a few days ago. SEGA is currently working on porting the original Sonic game on the Genesis which has had lots of ports done to it already to the iPhone/iPod Touch. The game will support save states and can be played in both portrait and landscape modes. Expect it to be on the App Store sometime this Spring!
Sources:
http://www.gamecyte.com/ces-2009-sonic-the...oming-to-iphone, Sonic Stadium
Oh goody, yet another Sonic 1 port! I wonder what are they gonna port it to next time.