This will package your .app bundle into Apple's well known IPA format. The IPA will be stored in the same build folder as your .app bundle (eg. "WORKSPACE/build/Debug-iphoneos/").

There're three known ways to install IPAs on your device:

1. Xcode's Organizer
2. iPhone Configuration Utility
3. wireless deploy (works for > iOS 4 devices)

WARNING:

These IPAs won't be removed automatically at the moment, so have a look at your disk space.