Just yesterday, we were at the Future of Media panel at the new TimesCenter, where Bob Guccione Jr., founder of Spin magazine, among other publications was reminiscing about how much he used to love LIFE magazine. Well, now it’s back.

The news out of the IAB Mixx Conference, which PRNewser is at today here in New York, is that Time Inc. and Getty Images will jointly launch LIFE.com.

According to the release, “LIFE.com will offer access to thousands of new photographs from Getty Image’s…consumers will also have access to millions of images from LIFE magazine, many of which have never been seen by the public.”

Previously, only three percent of the LIFE archive has been made public. Writes PaidContent’s David Kaplan, “Users will also be able to create a Life-branded coffee table book of their own photos. And, of course, an iPhone app is in the works.”