A few months back I wrote about Grooveshark prepping an iPhone app, and we went a long time without hearing any updates. Finally we have heard the pleasant news that Grooveshark’s iPhone app has been submitted to the App Store.

Now, this doesn’t mean that Apple will actually approve the app. There are a couple roadblocks in the way, especially given Apple’s history of rejecting similar apps for whatever reasons it decides to reject them. First Grooveshark is on shady legal ground until they can reach a licensing deal with the record companies, and also Apple could reject it due to having a negative effect on iTunes revenue.

So we wait with our breath held and our fingers crossed to see if it will show up. Perhaps if it doesn’t get accepted, Grooveshark could always go the path of Google Voice and offer it on Cydia. And it doesn’t stop there; Grooveshark also has plans to put the app out on other mobile platforms, as it well should.

If accepted Grooveshark would be available for a monthly subscription fee. Given the service’s immensely large selection of available on-demand music I imagine this will be a very attractive offer for music lovers with iPhones.

Credit: CNET