Unable to change Apple ID on my iPhone
Your iTunes ID is the same as your Apple ID. I've recently switched email addresses as well, so I can confirm that you can easily change the email address.
Assuming that you've already successfully changed your Apple ID, follow the steps that Hand-E-Food mentions:
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Go to Settings
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Select Store (near the bottom of the section starting with General)
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Click on your (old) Apple ID
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Click on Sign Out
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Click on Sign In
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Click on Use Existing Apple ID
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Sign in with your new Apple ID email address and password
That's all there is to it!
I've seen several instances of ID issues pertaining to changing IDs. Here are the TWO places in which you can sign in/out.
As previously mentioned, you can go to your settings, then general, then store - sign out there.
Next, I would launch the App Store - go to featured, scroll all the way down to the bottom and sign out there as well.
Now you can go to settings, general, store and sign in with the ID you want to use. There is one caveat. If you've used a previous ID and apps associated with that ID are on your device, you will still be prompted to enter the password for that ID if the App Store attempts any updates.
The best thing to do in this case is to re-download/purchase apps using the newer ID. This also involves removing the older apps from the device AND from your iTunes library (in iTunes just under "Music" you'll see apps - these are all stored locally on your computer and could sync back to your device, causing the older Apple ID requests).
Of course, if you're backing up to the cloud, this step is a bit moot. But good to know. Hope this helps.