For the first time, you can now watch March Madness games live with your iPhone, from anywhere over AT&T’s 3G network.

The application which is available on iTunes, will cost about $9.99, which is twice as much as the last year’s version that was available on limited WiFi networks.

Good news is that a free, limited version, which has been sponsored by Microsoft has also been provided that supports on-demand video highlights from every game, live scores, and and news coverage.

News is that CBS will also launch a free version for BlackBerry, which will be sponsored by Mercedes Benz. However, it won’t have any live video, or on-demand clips. Other live video will only be available on AT&T’s FLO TV service, which will get all 63 games. AT&T being the Exclusive Wireless Partner of the NCAA will have the privilege of limited to general coverage that’s available on CBS. The opening round game is March 16.

With the paid CBS iPhone app, you will be able to receive live radio broadcasts from Westwood One throughout the entire tournament, and push alerts to the phone to let you know if a particular game has gone into over time, or there’s some delay in the schedule.

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