I suggest you do as the following steps:
Firstly, decryppt & backup Blu-ray disc to your computer with WinX Blu-ray Decrypter.
Secondly, install Air Playit, a free iPhone iPad video streaming software. With this software, you can remotely contorl & enjoy decrypted Blu-ray movie on iPhone iPad iPod touch via WiFi, 3G/4G networks.
Here are the detailed information of streaming Blu-ray movie to iPhone:
http://www.airplayit.com/blog/streaming-video/streaming-dvd-video-to-ipad-ipad2.htm