Apple updated their website and online store today with increase in the amount of memory available to the high end iPhone/iPod touch.

For $499 you can now pick up a 16gb iPhone. Many people were suprised this move didn’t come earlier as the iPod Touch was selling with a 16gb model. Now people will wonder why the iPhone doesn’t come in a 32gb option as the iPod touch can now hold that much memory for $499. I’m sure Apple believe that an iPhone model at 32gb for what one can only guess would cost $599 wouldn’t sell as much as the lower, cheaper model.

Both the iPhone and iPod touch updated models are shipping in a 1 – 3 day time frame. So, if you were hoping for a little bit more space on your portable devices, your wish has been granted.