As of now, the only mobile phone that can make video calls over Skype is the Nokia N900. If you are the owner of an iPhone, Android or any other smartphone, you are unfortunately out of luck since Skype video calling is still not available on these devices.
That could possibly change soon. According to reports, Skype has called up for a media gathering on January 6, 2011 on the sidelines of the Consumer Electronics Show. Speculations are rife that Skype could be announcing a new mobile application for a number of platforms like the iOS and Android that will come equipped with video calling functionalities.
To be fair, there is nothing explicitly mentioned in the invitation itself and this is just a speculation based on the invitation list that includes blogs focusing on Android platform. So if anything, at least something big for Android is on the cards. So keep watching out.