Pay for your latte with your cell phone? Soon it will be possible, according to this Reuters report. At CTIA Wireless in Orlando, the wireless industry is gearing up for cell-phone shopping as well as more mobile advertising.

It's going to be a two-step process. First, we'll see more "wireless-enabled" credit cards, which you can wave at a reader instead of swiping them. Once those become more commonplace (give it a year or so), then cell phone manufacturers can start building that capability into handsets.

We'll be reporting from CTIA Tuesday through Thursday this week; stay tuned.

Shop-By-Cell Phone On the Horizon [Reuters via PC Magazine]