Iphone Vulnerable

Is the iPhone vulnerable to viruses sent via SMS or MMS?
A few days ago I started receiving SMS messages on my iPhone from an unknown number. These messages seem harmless, reading “Hi”, “High” and “! was g0nna cl3an my r00m but ! g0t high”. On the surface they look like some kid screwing around (I’m in my 30′s, and nobody I know talks like this) but I did some checking online and read about viruses or other malware that could be sent to an iPhone via SMS. Is this a threat or has Apple fixed any vulnerabilities with the latest iPhone OS? Thanks.
I’d like to add to narcissisticguy’s post. This vulnerability only affected iPhones that were jailbroken. If you do not jailbreak your iPhone, there are no security exploits known.
iOS 4.3 Baseband 04.10.01 Vulnerable for iPhone 4 Unlock, Confirms Dev Team

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