We’re not sure who dropped the ball on this one, but 9to5Mac is reporting that Apple has admitted a tethering application into its App Store. The $14.99 software promises unlimited (wired) tethering from your iPhone to your PC or Mac.

As most of you know, carriers typically charge a premium for smartphone tethering. And very few (if any) of them nowadays offer all-you-can eat plans. Given that knowledge, you can see why it’s a bit strange that Apple approved iTether

The tethering supposedly works well (though it likely depends on your connection speed). The iPhone app works hand-and-hand with a free software client, via USB chord, which can be installed on either a PC or Mac computer.

Up until now, you had to be jailbroken to get around your carrier’s expensive tethering plans. Cydia apps like PdaNet and MyWi have offered jailbreakers unrestricted tethering for years, but carriers have recently started cracking down on them.

We’re not sure how long this application will be available, but at the time of this writing it’s still there. If Apple doesn’t pull it soon, we’re sure that it’ll be hearing from some angry carrier partners. If you’re interested in iTether, make sure you grab it before it disappears.

Have you tried iTether? Nice, huh?