According to this CNET article:
"Adobe announced at the GSMA Mobile World Congress here Monday that Flash Player 10, which is the full version of Flash that runs on PCs, will be available on smartphones running Windows Mobile, Google's Android, Nokia S60/Symbian, and the new Palm operating systems. Devices with Flash Player 10 are expected to hit the market starting in early 2010."
While iPhone is not listed among the phones, it is known that Adobe is working with Apple to figure something out. It has been challenging for them.