Just a few minutes ago I spotted a tweet by our old Senior Editor Wayne Schulz regarding the approval of a new live video application called Knocking Live Video.

Knocking, which is in the App Store now, for free, is a streaming video application that supports live video over 3G on the iPhone.  There are a few streaming video applications in the iTunes App Store (Qik for example) but none work over a 3G connection, until now.

Dan, who is on vacation down in Aruba, and I just tested the application out. And while it’s very buggy, when it does work it’s pretty slick.

First, it supports push notifications.  You “knock” on another user’s iPhone and it send them a push notification that you want to share your video with them.

Then, once you’re connected (and getting connected isn’t easy, Judie and I tried a dozen times without success), you’ll see the video they’re sharing right on your iPhone.

It’s a one way video connection only (you can see them but they can not see you) and there is no sound (it’s being worked on as an update) but it’s pretty cool.  It supports the ability to save contacts in an address book like format as well.

I managed to snap a screen shot of the video above.  Dan’s pool side view in Aruba.

The application does seem very buggy right now.  It crashed on me multiple times, and as I mentioned above, Judie and I could not get it to work at all.  At the very least though it’s a sneak peak of what’s to come and hopefully a sign that the doors to streaming video over 3G will be opening for other applications too.

Knocking Live video is available in the iTunes App Store here.