Microsoft is expected to announce today a license deal with Adobe to allow them to put Flash Lite and Acrobat Reader LE on Windows Mobile devices.  The deal will allow Microsoft to give Windows Mobile devices the ability to handle PDF files out of the box and to bring the Mobile Internet Explorer browsing experience more in line with the competitive browsers like Opera.  No word on when to expect OEMs to get Flash Lite and Reader for inclusion in device ROMs.  Will this allow Windows Mobile devices to play YouTube videos?

(via CNET)