Episode One, "A New Day," will be available on the App Store for $4.99. If you're hooked, you'll be able to buy future episodes for $4.99 each. You can also pre-purchase episodes 2-5 for $14.99, essentially getting one episode for free.
Episode Two, "Starved for Help," should also be available soon.
The iOS version of the game will have touch screen controls. You'll still retain full character control of Lee, as you tap on investigation points, dialogue trees, and swipe across the screen to perform actions. The game will work on the following devices: iPad 2, the new iPad, iPhone 4, iPhone 4S, and 4th Generation iPods and above.