So that AR Drone Quadrocopter we saw at CES just the other week, well, it’s made by a company named Parrot and we’ve managed to get a hold of some exciting footage of it buzzing around the streets.

At an estimated $500 price when it hits the store shevles, it’s not so bad of a deal considering: the quadrocopter is controlled by your iPhone or iPod Touch via WiFi, it has two onboard cameras, one streams vide back to your iPhone, an ultrasonic altimeter, gyro/accelerometer stabilization system, best of all, the “augmented reality” system turns your flying saucer in to a video game by overlaying graphics and objects on your screen with multi-player capabilities.

It wont stop there, Parrot is creating an API for the WiFi interface allowing developers to get freaky with this flying system.