With all of the rumors about Apple moving toward the video game business with upcoming announcements, it perhaps is no surprise to learn that Bethesda has been exploring the development of some of their most popular recent titles on the iPhone platform.

According to our insiders, Mass Effect as well as Fallout could be headed to the iPhone in the future. They have at least been looking into the possibility of developing a version that would be targeted at the iPhone platform.

According to what we have been told, no decision has been made yet, and at least for the moment they are not in the process of doing it yet. Still, it seems as if Bethesda does think that the titles could translate well onto just about any platform.

Of course nothing has been officially announced, but we would not be surprised if you see this in the future. After all, who would have thought that they would be doing a Metal Gear title for iPhone? We do suspect that you will hear more about what we have been calling around here the “Apple Gaming Initiative” at the WWDC. Right now, we don’t think Apple is going to launch an actual console, but maybe a revised version of something like the Apple TV that can also play games as well as offer more gaming abilities on the iPhone platform.

After all, you don’t go after superstar graphics technology developers to add to your team unless you are trying to build a graphics chip. What would you need a graphics chip for if you were not going to get a bit more aggressive in the games market space with your upcoming hardware releases? Our sources seem to confirm this and we suspect that we should be able to give you some additional details soon.