My issue was using Distribution provisioning profile for signing the app, once I made a development provisioning profile, the app installed and ran on iPhone just fine.
The answer seems to be "you need to fix your provisioning profile", but can happen for several reasons, as indicated by other answers on here.
In my case, I hadn't added a new device to an existing developer provisioning profile, so I just re-created the profile with the new device, and it worked!
In my case happens all time I add a new device ID then update the provision profile, download and "install it on Xcode 5".
To fix this:
Start again the app, you will be able to test the app in the device.
Here's what my situation was and how I solved the problem:
SOLUTION: turned the phone off n on.
Coincidence? I think not. :-)
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