Iphone/Itouch video player

Looking for a developer who understands how the YOUTUBE application works on the Iphone and Itouch to build a new application which can be play movies from our site, as you might know the devices cannot download a flashplayers so google and apple convert movies from YOUTUBE to MP4. We would like to be able to convert flash (FLV) to MP4 on the fly, pulling it from other sites and saving it to our server. Time limit for using the application for free with an option to pay a monthly payment (cbill or other adult billing). So if your up for a challenge to produce an application which has a look and feel of the Itouch version of Youtube Bid for this Job. Installing the application to the I pods would have to be done using jailbreak type sites don't know if there is a better way. Regards Charlie