Nope, the iPhone doesn't support over-the-air updates. Apple can patch it in the next version of the OS, but no one's gonna get the update without a computer.

Thank you for providing this information. So, it would be something like "new high-optimized, dramatically improved, much faster build of the OS 3.0".

Unless the vulnerability is used to disable the updates. If that was the case, pushing out updates to all of those phones could be quite a lot harder.

Let's hope they get the update out before someone writes a worm that blocks updates.