Mobile Learning is gaining popularity especially in distance learning higher educational institutions. Latest technology used in mobiles leads to better delivery of educational resources to students. The major aim of this study is to assess students' readiness for m-learning through assessing four factors: available mobile phone features, cellular service availability and affordability, students' prior exposure to e-learning and mobile learning adoption willingness. Data has been collected from 178 students of Allama Iqbal Open University (AIOU) enrolled in different programs of study. The developed questionnaire factors reliability is based on Cronbach's alpha reliability. Analysis is made by using SPSS. The result shows that student has high level of willingness to use mobile phones in educational activities. Furthermore mobile phone features necessary for m-learning are available with students mobiles. Results also indicate that cellular service is also available & affordable. However the level of prior e-learning knowledge among AIOU students is moderate. The results also indicate that m-learning can save the learner's time and they felt comfortable in using mobile devices for learning activities.