The people working with iTrans and iRed are hard at work creating a new version which will work on the iPhone. In their words: "the best remote control ever." It will be fully B&O compatible.

Here's their iTunes beta interface:

The face will change according to the hardware you are using. If you have SONY, this is what it will look like - and you just press the buttons on the screen - here you have two SONY remotes side-by-side:

http://www.filewell.com/iRed2/