Google Wave, the Internet giant’s new online collaboration tool, is making lots of waves. Google Wave lets users work on the same content object, dubbed a “wave,” which can house both text and multimedia. Users can reply to messages and edit together in real-time.

Google Wave, the realtime collaboration tool, is poised to become the next big thing in social networking, and if you snatched one of the first invites to it, we’ve got good news for you: a Google Wave iPhone app is on the way, so you can splash around on the service on the go too!

It’s still early days for Google Wave, but the service is already picking up third party support like rappers do entourages, and one of the most promising is Waveboard, a Google Wave Mac Desktop client. But now Waveboard is headed for the iPhone too, and awaiting the thumbs up from Apple right now.

Nowadays, the developer says the app is awaiting approval for the Apple App Store.

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