Verizon Wireless will be adding banner advertising to its customer's cell phones in 2007.

The company says that their foray into mobile ad placement will be cautious as they will limit where ads can appear, The New York Times reports.

"We know we can make significant dollars in mobile web advertising in 2007," says John Harrobin, vice president of marketing and digital media for Verizon Wireless. "That said, we likely will not-- we want to take it carefully and methodically, and enable the right experience. Mobile advertising is going to take off in 2007."

Jupiter Research predicts that wireless ad spending will reach $2.1 billion by 2011. The research company also speculates that mobile display advertising will grow from $56 million in 2006 to $224 million in 2011.

For more insight on mobile advertising, read Mobile Roundtable, which features some insight from Stephanie E. Bauer, manager, mobile web and mobile advertising, Verizon Wireless.