Yes I Can!

YourTube 2.0 for iOS 4, iPhone 4 and iPad Now Available for Download
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Finally! After a long wait, YourTube app has been updated to version 2.0, bringing full iOS 4.x support for jailbroken iOS devices including the support for iPhone 4 Retina Display and iPad. Not only can you now download YouTube videos on your iPhone, iPad and iPod touch, but you can now also import all your downloaded video in iPod app seamlessly! This new feature is dubbed as “Gremlin” and will also be available later for other Cydia apps such as Safari Download Manager and Attachment Saver.

YourTube 2.0 is newly re-designed for iOS 4. It includes a host of stability fixes, improved memory management, improved download speeds, and fixes for the nasty iOS 4 sandbox. And don’t forget the ability to import your downloaded videos into the iPod library.

YourTube 2.0 for iPhone / iPod touch and the updated version of YourTube HD for iPad are both available on Cydia. If you purchased YourTube version 1.0 after July 1st, you are entitled for a free upgrade. If you bought it before July, you are still entitled for a 80% discount. Upgrade from version 1.0 to 2.0 costs $1 only.

You will of course need to have a jailbroken iPhone, iPad or iPod touch to install it.