By AppleInsider Staff

Published: 02:00 PM EST

Apple Inc. on Thursday released iPhone software update version 1.1.1, which adds access to the Wi-Fi iTunes Music Store, the ability to increase the handset's speaker and earpiece volume, TV output, and several other features.

To download the 152MB update, iPhone owners need simply to connect their iPhones to their Mac or PC and click the "Check for update" option in iTunes.

One more warning:

"If you have modified your iPhone's software, applying this software update may result in your iPhone becoming permanently inoperable," Apple re-warned customers in the release notes accompanying the software download. "Making unauthorized modifications to the software on your iPhone violates the iPhone software license agreement, and the inability to use your iPhone due to unauthorized software modifications is not covered under your iPhone's warranty.

Version 1.1.1 of the iPhone software includes new features, bug fixes and supersedes all previous versions, the company added.

New features include:

iTunes Wi-Fi Music Store

Louder speakerphone and receiver volume

Home Button double-click shortcut to phone favorites or music controls

Space bar double-tap shortcut to intelligently insert period and space

Mail attachments are viewable in portrait and landscape

Stocks and cities in Stocks and Weather can be re-ordered

Apple Bluetooth Headset battery status in the Status Bar

Support for TV Out

Preference to turn off EDGE/GPRS when roaming internationally

New Passcode lock time intervals

Adjustable alert volume

Security updates

In addition to the unspecified bug fixes and documented new features, Apple also said the software update includes 10 individual security modifications. According to a detailed list of security related changes posted to the company's support site, seven target the iPhone's mobile version of Safari, two its mobile Mail client, and one its Bluetooth implementation.

Apple has also updated its iPhone website with a video demonstrating the new features, including the Wi-Fi iTunes Music Store, Ringtones, and more.

Update not third-party app friendly

Much to their dismay, several users of the AppleInsider forums who had installed third-party "hacks" or applications on their iPhone -- but had not unlocked the device from AT&T's network -- report that the software update reverts their handset back to its original intended form.

Update may delete Notes, Favorites

In addition, at least one user has experienced an issue where following the update all of his Notes and Favorites had been erased.

Update:

AppleInsider reader Will lets us know that another cool feature added to the iPhone with the 1.1.1. update is the ability to play MP3 audio files attached to mail. We tried it and it sure does work.