Self-published authors now have a nearly instantaneous way to publish and sell their book on the iPhone. Lexcycle, the makers of the Stanza iPhone reader, announced a partnership with with the digital self-publishing company, Smashwords.

Last year GalleyCat had an exclusive interview with Smashwords CEO Mark Coker, who explained that his company offers authors an 85 percent cut of royalties and produces digital copies in multiple e-book formats. According to the release, most Smashbooks cost around $3.00.

Here's more from the release: "Authors simply register for a free account at http://www.smashwords.com and upload their finished manuscript as a Microsoft Word file. Smashwords automatically converts the book into multiple DRM-free ebook formats including the EPUB standard used by Stanza, ready for immediate sale online via Stanza and the Smashwords online bookstore. Authors set the price of their book, determine the sampling percentage, and receive up to 85% of net sales proceeds."