Telus + Unlocked Iphone?

I have a blackberry pearl flip with telus right now, but it sucks. So i want to get a iphone, but i still have like 2 years on my contract with telus. There is no way i am buying a iphone full price from telus, but on ebay, they are a bit cheaper. If the iphone comes "factory unlocked" will i be able to put a telus sim card in it, and have it work?
Also, does anyone know when you can "re-sign" with telus contracts? Because i know you dont have to wait the full 3 years sometimes, they will give you offers at some point, does anyone know when that is?
Thanks for any responces.

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Yea, as long as its unlocked you can use it on telus.

I was looking at phones a month or so ago and was talking to the guy at the telus store about how telus had no good droid's and I didnt want the hero, because it was meh, it had very simmilar spec's to my touch pro, and it was slow.

So we were talking about buying a nexus one from the states, and unlocking it and activating it, he said thats completely fine, and he had activated one or two already. Anyways, I got wind of the desire, comming to telus, and waited it out, and bought it yesterday, greatest phone ive ever used.

Anyhow, based on what he told me, there shouldnt be a reason why you couldnt use an unlocked phone, you just take it to them, they activate it and give you a sim. The only thing is there is 0 warranty, since you didnt buy the phone through them. I have a sim in my phone, and just about all new phones telus is getting does/will have sim's, so ever since they started selling the iphone, theyve openly began using sim cards. (Who knows maybe they used to have them before, but you needed to specially ask/buy one.)

Also, to answer your question about early contracts, if you want out, you pay $20.00 x the remaining months, or $120.00 whatever's more. If you want to upgrade your phone (resign your contract) you can do that as early as 6 months left in your contract.

You might be able to talk to telus and tell them your phone is damaged etc etc, and you may be able to resign a contract and pay the 3 year price for the iphone.

Also, take a look at this: How To Get out of your Cell Phone Contract