VOIP calls with MagicJack Connection and Siphon

Update (September 2011) : MagicJack released an iPhone App now. Please download it from Apple AppStore, No more jailbreaking, No more Hacks. Hurray...
I have been using MagicJack to make calls to USA. Though its an excellent product, the hassle with MagicJack is we have to connect the MJ device to USB and the MJ device to the phone, along with this the annoying popup software.
So this weekend my project is to see if i can run the MagicJack on iPhone. I have iPhone 2g running 3.0.2 version of iPhone OS (Yeah i need to upgrade) and MagicJack currently running version 1.90.521.2.
As per my initial investigation, found the following things.

• MagicJack works on SIP (Session Initiation Protocol).
• Every MagicJack has its own username and password (hidden), this is different from your magicjack username and password.
• MagicJack connects to a closely available proxy server.
• Any iPhone app that supports SIP can be used to make calls with MagicJack Account. (Eg: Fring, Siphon)

So inorder to make calls from iPhone using MagicJack Data Connection we need to perform the following tasks.

1. Retrieve Username and Password from MagicJack
2. Identify MagicJack Proxy
3. Install Siphon through Cydia
4. Configure Siphon