Hey that didn't take too long! TeleNav just announced that they'll be releasing their turn-by-turn GPS navigation software for Android on February 24th. The TeleNav software will include full color 3D graphics, speech recognition, one-click rerouting, traffic alerts, weather updates, gas prices, and restaurant reviews. Supposedly over 10 million businesses and services will be packed into the TeleNav software. Sounds good, right?

Well here comes the kicker. After a 30-day free trial (yay!), the software will run for $9.99 a month (boo!). I know, a pretty stiff price to pay. Currently, there's no word on whether it'll hit the Android Market or explore an alternative route and we have no idea how big the application will be. Though the price is high, this is still exciting news! Hopefully we'll see more turn-by-turn GPS software in the near future.

UPDATE: According to our good friend Matthew Miller there are other pricing options: $9.99/monthly, $99 for a year, $249 for four years. He has spent a fair amount of time with the software so you can check out his impressions here.

More pics after the jump!

[via Engadget]