Saw this over at 9to5mac thought I would share it here.

Tonight, Apple will produce its first-ever live event streamed to the iPhone: a concert by the electronica band Underworld. Head to iphone.akamai.com or underworldlive.com to queue up. The show starts at midnight Eastern US time and the stream is free.
The broadcast is thought to be a test/showcase for Apple's new HTTP streaming protocol which uses adaptive bitrates to deliver a continuous smooth stream in varying network conditions. "Varying conditions" are often the case when on 3G networks like AT&T's. Speaking of which, don't expect to be able to make a call during the show tonight if the word gets out (Retweet!).