Apple announced the Find My iPhone feature on MobileMe on Monday during the WWDC keynote. Apple is now detailing the new Find My iPhone and Remote Wipe service on the MobileMe site.
When enabled you can with the Find My iPhone feature see your iPhone's approximate location on a map and send a message to the iPhone.
In case your iPhone actually got stolen you can issue a remote wipe that deletes all personal data like contacts, photos and emails.
In case you find your precious iPhone again you can restore the data via MobileMe again.
The new features will be available with the release of iPhone 3.0 OS on June 17th. Developers who got a beta of iPhone 3.0 OS can already test the service. You can see it in action on Engadget.
Now if MobileMe would be free service the world would be totally peachy place. The new feature is though again adding some nice value to the service. MobileMe costs $99 per year to use. A family account with additional email addresses for four family members sells for $149. Apple offers a 60 day free trail of MobileMe here.