We’ve stumbled across a rumour via our mates over at product-reviews that there is a possibility of a Zune phone coming out of Microsoft following news of a Zune HD media player.

Now should Microsoft actually push our the fabled Zune mobile phone one could practically guarantee it would come sporting Windows Mobile 7, but the thing is will this ever hit reality?

The smartphone market is still strong and now would be a good time for Microsoft to make the jump, but they would need to move quickly to steal some of the action from the likes of the Palm Pre and even the rumoured 3 new Apple iPhones.

So what do you think, should Microsoft push out a Zune phone to compete with the iPhone and Pre?