  The Large Binocular Telescope Interferometer is a NASA-funded nulling and
imaging instrument designed to coherently combine the two 8.4-m primary mirrors
of the LBT for high-sensitivity, high-contrast, and high-resolution infrared
imaging (1.5-13 um). PHASECam is LBTI's near-infrared camera used to measure
tip-tilt and phase variations between the two AO-corrected apertures and
provide high-angular resolution observations. We report on the status of the
system and describe its on-sky performance measured during the first semester
of 2014. With a spatial resolution equivalent to that of a 22.8-meter telescope
and the light-gathering power of single 11.8-meter mirror, the co-phased LBT
can be considered to be a forerunner of the next-generation extremely large
telescopes (ELT).
