Ok I just figured this out and it worked perfect for me! Live TV on your iPhone without a TV tuner. Read on..
1. Install Orb on your PC and run as a server
2. Install Sopcast on your PC
3. Install OrbLive on your iPhone
4. Run Sopcast on your PC and play the channel you want to view on your iPhone
5. On your PC, double click the orb icon on the taskbar to go to your orb mycast page
6. Go to Open Applications > TV/Webcams > Internet TV > Add Custom
7. Add this link, http://127.0.0.1:8902/stream (name it whatever you want)
[Note: The port might be different under different setups. Find the stream link by right clicking on your sopcast channel and then "Properties"]
[Note 2: If you are using TVU Player instead of sopcast, then add this link ( port might be different under different setups), http://127.0.0.1:8901/]
8. Now start OrbLive on your iPhone and open the link you just added (Video > Online Videos > Internet Chanels)
You should see the live tv channel on your phone now!
<- Thumbs up if you find this helpful.
[Please give proper credit if you use this tutorial anywhere else - thanks]