Well not exactly. It now has an emulator for you to download ‘legitimate’ GameBoy Advance games onto you iPhone and play them. The application is titled gpSPhone, and is currently in version 0.5 (which is very buggy supposedly). It will be surprising now to see how many people buy iPhones, because they will be able to play Pokemon while on the train.
For more info, click over to the TUAW Website. And to download gpSPhone go to ZodTTD.