Is there a way to read an ebook on the iphone?

I would love to read books on the iphone as I already read newspapers on it.
By ebooks I mean both online ones (such as the free ebooks from the Gutenberg project) as well as ones purchased online.

I dont want to jailbreak the iphone since I can hold out till Feb so I am looking for "legal" software.

Thanks

Well you could just email yourself a PDF and read it there. That's the only non-jailbreak way I can see out of this. Unless of course there's an online ebook reader somewhere...