Skyfire CEO Jeffrey Glueck explains how his newly approved browser works

The Skyfire browser, which has been downloaded more than 1.5 million times on Google GOOG Android devices, has just been approved as an application for Apple’s AAPL App Store. It goes on sale at 9 a.m. EDT Thursday for $2.99.

The app gets around Apple’s restrictions against Adobe ADBE Flash by converting Flash videos into an HTML5 format suitable for viewing on an iPhone, iPad or iPod touch. It does not, unfortunately, work on Hulu.com, for reasons Skyfire’s founder explains in this interview with Fortune’s Michael Copeland.

For more, see David Goldman’s piece on CNNMoney.com.

[Follow Philip Elmer-DeWitt on Twitter @philiped]