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I found an inexpensive lap timer for your I phone or Android
I saw on some forums that they are not as accurate as a real GPS Lap timer but really close. So if you are just doing track days this would be good. But if you are racing I would probably go with a GPS Lap timer. Your choice 9 bucks or 300..
Here is a lap timer for I phone $8.99
http://itunes.apple.com/us/app/harry...307688598?mt=8
Here is a review
http://bonadjalins.wordpress.com/200...p-timersentul/
Here is one for Android $5.99
http://trackmaster.trackaroo.com/welcome