Help on a precipitate lab... ?? ?

When Iron(III) Nitrate reacts with Sodium Iodide, you get Sodium Nitrate and Iron(III) Iodide, the precipitate. Is Iron Iodide actually a precipitate? i mean, is it soluble in water? It changes to a light yellow colour. I'd prefer someone who might have done this in a lab before... 'cause i already went through solubility rules...