http://www.strategyinformer.com/news/12271/steam-expanding-to-ios-and-android Do you think Valve make a mobile version of Steam? If yes, what Steam games do you want to see on iOS? Will the mobile Steam turn into an App Store? Here is the article from Pocket Gamer of which Steam games they want to see on iOS.
It's pretty creative, with all the indie games out there, but I don't think Steam on the iOS or any mobile device will succeed.
Would Apple even allow a Steam app? Steam is really just the middle man between the developers and the customer... it's the exact same position the App Store holds. I don't think they'd let the competition muscle its way in without a fight.
Even if Apple won't let Steam in, Valve would still have a decent base to start off with jailbroken devices. And if they have big name games like Portal on the iDevice then lots of people will want it.
Well there's two good reasons for Apple to turn it down I'm sure there would be a small market on jailbroken devices, but it'd be much simpler just to stick Portal (if it ever happened) on the App Store.