There's now a mobile version of AdSense, enabling publishers to place text ads on mobile-optimized websites. This version is currently in limited beta.
Now publishers can place targeted text ads on mobile sites for further monetization opportunities. This allows website publishers to take part in the benefits of marketing efforts in the mobile arena, and leverage their existing Google AdSense account to take advantage of its platform. We haven't heard much in the way of mobile advertising lately, but this announcement should get some discussions flowing again. I expect many publishers and advertisers alike will be hopeful with the advent of mobile AdSense, as mobile-optimized websites are still paving the way for new standards.
In other Google mobile news, you can now connect with your iCal using text messages from your cell phone.