I do it all the time. Before smart phones were a thing I had a water proof shower radio. Now I use the phone for the same thing. Mostly listening to news or a podcast or something. Sometime it's a Nebula video, but in the shower I'd just be listening to it like a podcast anyway. Before phones were waterproof I used to use a waterproof Bluetooth speaker.
I've never had steam cause a problem, but then again my showers aren't long, aren't very hot and my phone is kept pretty high up and out of the way.