Apple has released the iBooks app into the App Store. The iBooks app will only run on the iPad and includes a complimentary copy of Winnie-the-Pooh by A. A. Milne. Some of the features of the app allows you to highlight your favorite passages with the built-in bookmarking feature, read a free sample of any book on the iBookstore, built-in search, and spoken word.
The app’s page also states that only the ePub format is supported and to add ePub books from outside of the iBookstore to the iBooks app, they must be DRM-free and synced to the iPad using iTunes 9.1 or later. The iBooks app is free.