CNET reports that TomTom has updated its turn-by-turn GPS navigation application for the iPhone with several highly-anticipated features, including text-to-speech and advanced lane guidance. The updated application has been submitted to Apple and is currently awaiting approval.

The update will add text-to-speech (TTS) for spoken street names and POIs as part of the device's directions, graphic lane guidance which displays a visual representation of complex highway intersections with indications of valid lanes for the route, and a "Help menu" offering a shortcut to emergency number and directions to the nearest emergency services.

Also included in the revised version are in-app iPod controls, map updates, and audio warnings to alert drivers when they are speeding or approaching safety cameras used to aid in ticketing drivers exceeding the speed limit.

The TomTom iPhone application is available in a number of countries and regions, with the U.S & Canada version [App Store] priced at $99.99.

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