The HLS is supported on Android since version 3.0. Until the Honeycomb the H.264 and AAC was supported, but there was only RTSP streaming protocol. The HLS and MPEG-2 TS not (see here) were not supported.
Porting the ffmpeg to the Android platform could be a solution for that (LGPL sources ara available). I am however looking for a ready made solution with SDK, customizable HLS player, etc. There is one here, but I would like to know if you do not know about other solutions.
Thanks STEN
Finally we have made our own player with use of the FFMPEG libraries and now we are integrating there also HW decoding with use of the stagefright (http://freepine.blogspot.cz/2010/01/overview-of-stagefrighter-player.html).
BR STeN