Friday, July 31, Apple released iPhone OS version 3.0.1 ahead of schedule to patch the SMS security hole revealed Thursday at Black Hat USA 2009. According to the Associated Press, iPhone users must connect their iPhones to their computer in order to be alerted about the update, download and install it.
It is important to install this update ASAP. You can read Apple's description of the SMS security problem and patch HERE. Credit for discovery of the SMS problem was given to Charlie Miller and Collin Mulliner.
The AP report that Google have patched the SMS problem in their Android OS. Meanwhile, Microsoft are "investigating the vulnerability" in their Windows Mobile OS. There are no announcements at Microsoft.com regarding the SMS problem at this time.