AirLocation, an iOS application that allows users to share their iPhone’s GPS location information their iPhone to their iPad, is rapidly growing in popularity.
After that it’s simple, according to the developer’s website:
It’s certainly an interesting concept. But come on… if you’re going to go through this trouble and pay the monthly Hotspot fee, iDevice users might as well dish out an extra $129 for a more dedicated solution — an iPad 3G.
The application requires iOS 4.3.0 or above and the ‘Personal Hotspot’ option must be turned on.  ’AirLocation’ is available in the App Store for 99 cents.