IPhone Application Rules

Hello,
My apologies for posting this question on this forum, but I still can't find the answer to my query even after reading through the application developer docs and contacting Apple support. Here it is:
Would Apple permit us to create an iPhone Application that did the following:
-It was free for users to download from the iPhone application store.
-Once downloaded, users could submit their details (including country, mobile/cell phone number, mobile/cell phone network).
-The customer then receives a free SMS asking for their action to subscribe to a Premium SMS service (EG: Hello. To subscribe to Ace Ringtones, reply OK to this number. Cost: 4.99/month. Helpline: 1800 985 452)
-The customer replies OK and is subsequently subscribed to our Premium SMS service.
*Just to clarify, Premium SMS is the technology that allows your mobile/cell phone to be reverse billed, so the fee is added to your pre-paid or post-paid account with your telco (e.g. Sprint, Virgin Mobile, etc)
The reason I ask is because while our Apple iPhone application would be free, we would still be making money without Apple using premium SMS.
Could you please confirm if this business model would be allowed by Apple for their iPhone applications?
Thanks in advance for any information / feedback.

Might get better response here:
http://www.iphonedevsdk.com/forum/

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