Asw far as I know it cannot yet be done on the iPhone. A Flash Player for the iPhone is being worked on currently. I do believe though that if you jailbreak your iphone there is a way to do it. Other than that, you can go to your schedule page, and click the Add Scoreboard button next to the game you wanted to watch. It isn't exactly a live game, but it'll give you the scores and it updates frequently and can be seen on the iPhone.
Hope that helps!