Gaming development for portables and remotely processing graphics - how possible this is?

Is it possible to process graphics remotely and send it to another device (like an iP开发者_C百科hone), so you could run a game with better graphics than the iPhone itself could handle ?

I googled a bit but found little on the subject, just some things about GPU Cloud services but not many information.

I've seen the OnLive thing, and I guess the main issue to develop this for a phone would be network connection. Would it be feasible ? Viable ? Does it look like the future of gaming for portables ?

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Ouch, no. iPhones have impressive resolution (on par with OnLive) but a data connection that comes nowhere near what's required. Furthermore, using a radionetwork also is demanding on the battery. So from both a cost and a technical perspective, a local GPU (included in many modern ARM SOCs) is a better solution.