There were rumours about a Beatles Yellow Submarine iPod earlier this year. However, according to music industry consultancy Music Ally, the Yellow Submarine iPod may be back on now that the iPhone launch is out of the way.

What’s more, it may be launched to tie-in with Beatles tracks finally going on sale on Apple’s iTunes Store, possibly as a one-month exclusive before becoming available through rival digital music services.

Apple Inc’s Steve Jobs’ highly public nod to the Beatles (playing “Lovely Rita” on the iPhone) during his January 9, 2007 Macworld keynote fuelled widespread speculation about a deal to sell Beatles songs on iTunes. Of the matter, Steve Jobs said “We love the Beatles, and it has been painful being at odds with them over these trademarks. It feels great to resolve this in a positive manner, and in a way that should remove the potential of further disagreements in the future.”