Vimeo, the popular video sharing service, has just announced the availability of its official iPhone app on the App Store.

Available for the iPhone 3GS and iPhone 4 with iOS 4.0 or later, the app brings most of the functionality from the website right to your palm. You can browse through and watch all your existing videos and even download them to your camera roll or upload videos you’ve shot using the phone. The obvious social sharing features are also included.

The app also features an easy-to-use video editor with the ability to add transition, titles, effects and also lets you trim or combine the video.

The app is a free download from the App Store and weighs in at just over 20MB. Vimeo promises to add more features to the app in later updates.

Picture 351 520x377 Vimeos Official iPhone App is Finally Here