The long awaited release of Apples IPhone took one step closer on Thursday when it received approval from the FCC. The FCC refers to the IPhone as a ?GSM cellular telephone with Bluetooth and WI-Fi?. It's too bad they didn't include a GPS feature.

The lack of GPS, expandable memory and a removable battery were key sources of criticism among Smartphone enthusiasts and would be considered a deal breaker for most hardcore users. It will be interesting to see if the final version will have addressed any of these issues.

The IPhone will be available sometime in June exclusively through AT&T formerly Cingular wireless. Retail prices with a new contract start at $499 (4GB) and $599 (8GB).