This study investigates English as foreign language (EFL) students' readiness and perceptions towards mobile learning. 119 English preparatory school students of a private university in Ankara, Turkey participated to the survey study. Findings revealed that the majority of the respondents have already met the basic requirements of mobile learning environments in terms of mobile device availability and infrastructural requirements. Students were highly familiar with the skills related to several different mobile phone activities. Most of the students welcome the idea of mobile learning but the current status of mobile learning initiatives seems inadequate to meet the potential demands of students. The study also revealed that students have budget constraints for mobile learning tools and most of them have found to be indecisive regarding the adequacy of their skills and budget limits for the future mobile learning activities.