Verizon (NYSE: VZ) Communications has developed an application that could convert one's iPad and tablet PCs into a live TV, as the U.S. carrier seeks to attract television customers from cable companies such as Comcast and Time Warner Cable (NYSE: TWC).

The latest development comes at a time when Verizon is rumored to release a Verizon iPhone in early 2011, and if the company's new application sees the daylight, then one cannot rule out the possibility of an Apple (Nasdaq: AAPL) iPad on Verizon Wireless.

Verizon, which plans to make its service available at no extra charge, expects to offer the application in 2011 to its FiOS customers, who could then be able to surf the TV channels right on the touch screen of an iPad without a remote.

U.S. carriers including Verizon want to diversity their revenue base amid falling landline customers even as their cable rivals are battling with the increasing popularity of free videos on the Internet.

Verizon, a Dow component, is on the verge of completing its $23 billion project to wire two-thirds of its territory with fiber to the home connections. The company now has 3.8 million customers for Fios Internet and about 3.2 million subscribers for Fios TV, according to its second-quarter results.

Now, the biggest roadblock for Verizon could be convincing the owners of TV channels like Time Warner and Walt Disney and get permission to extend live TV viewing to devices such as tablet computers and home appliances.

Meanwhile, Verizon is not alone in the race of bringing cable-TV signals to non-TV devices.

Recently, carrier AT&T (NYSE: T) announced an iPhone application U-verse Mobile that allows customers of its IPTV service "U-verse TV" the ability to download and watch popular TV content on their iPhone.

Hulu introduced a new paid subscription service in June for watching TV shows and movies on mobile devices, game consoles, television sets and computers. However, Hulu doesn't offer live TV.

Netflix (Nasdaq: NFLX) already runs a subscription service, while Comcast and Time Warner are developing "TV Everywhere," which will allow people to watch shows on demand for free and on any device provided they are already paying customers.

In another case, Time Warner's HBO service Go lets subscribers download episodes of "True Blood" or "Big Love" as a free ad-on.

Verizon, the number two U.S. telecom services provider after AT&T, on Wednesday also announced a slew of new offerings for its Fios TV subscribers, who could use the services by the end of the year.

Verizon expects to offer movie purchase and rental options and a three-screen option that allows subscribers to view digital rights-protected video content to be shown on up to five other devices.

The company is also allowing customers to store their own personal content, such as pictures, video, and music in the cloud with the option to listen or view the content anywhere there is an Internet connection using a Fios app.

Shares of New York-based Verizon closed at $30.15 Wednesday on the NYSE.

Ibtimes

International Business Times, The Global Business News Leader

Walt Disney is a Motley Fool Inside Value pick. Apple, Walt Disney, and Netflix are Motley Fool Stock Advisor recommendations. Try any of our Foolish newsletter services free for 30 days. The Motley Fool has a disclosure policy.