Did you modify the M50's cable in the end?
What I did with mine was de-solder the old cable, cut it to about 5cm, pulled the plug all the way to the top of the sleeve on the left ear cup, removing the spring stress relief, and re-soldering.
I got a custom 1m Neutrik Rean male/female cable custom made, and another 3m cable for use at home.
When I use them with my galaxy S, I use the official Samsung remote which I bought off ebay (4-pole jack), which is about 0.8m long, the controls allow me to change volume (in-line analogue), answer/end calls, pause/skip/previous track and an inline mic.
You may be able to get an iphone handsfree cable like this.
You might lose quality, but actually I have found no sq difference compared with the original cable. No microphonic noise either, as I'm using the original cable and as the length is so short, but actually I tried doing this with a longer cut of the cable, there was still no microphonic noise thankfully, obviously the material of the starquad cable used was what was causing this. I'll post some pics if you're interested.
Here's the kind of thing you'll want: iphone microphone adapter
http://shop.ebay.com/i.html?_nkw=iphone+microphone+adapter%23&_sacat=0&_odkw=iphone+griffin+microphone&_osacat=0&_trksid=p3286.c0.m270.l1313