There are several options to live stream on your Android device and one more is added now also. Justin.tv a familiar streaming service, now has a free application live in the Marketplace that will allow you to stream from you Android device. It requires an Android device that is running 1.6 and up (which is a surprise these days) and will work over both 3G and Wi-Fi connections.
What they are saying differentiates this app from it's competitors is, the video encoding puts less strain on the battery. You can record in portrait or landscape options and the bitrate will automatically adjust based on your data connection. Tap on over to HERE and download it, or do a search in the Marketplace to get your streaming started now.