(PHP 5 >= 5.1.0)
SimpleXMLIterator::current — Returns the current element
   This method returns the current element as a SimpleXMLIterator object or NULL.
  
This function has no parameters.
   Returns the current element as a SimpleXMLIterator object or NULL on failure.
  
Example #1 Return the current element
<?php
$xmlIterator = new SimpleXMLIterator('<books><book>PHP basics</book><book>XML basics</book></books>');
var_dump($xmlIterator->current());
$xmlIterator->rewind(); // rewind to first element
var_dump($xmlIterator->current());
?>
The above example will output:
NULL
object(SimpleXMLIterator)#2 (1) {
  [0]=>
  string(10) "PHP basics"
}