This study is unique in its attempt to combine the Technology Acceptance Model (TAM) with external variables and the Information System Continuance Theory, in the context of mobile learning. It extends TAM with the external variables perceived mobility and perceived enjoyment. Mainly, students' perception of cell phones effect on their academic performance is investigated. The study was conducted at two different universities--in Europe and the Middle East. Cell phone usage is analyzed from the perspective of mobile learning. The data in this study were collected from 103 students from the University of Latvia and 106 students from a Middle Eastern private American University. This study shows that there is no significant difference on how the two groups perceive the use of cell phone and their opinion of its impact on their academic performance. The obtained results are in line with the theoretical model. They show the influence of perceived enjoyment and perceived usefulness on students' attitudes towards using cell phones. Data shows that there is a positive relationship between cell phone usage and students' perception of its effect on their academic performance. This study reveals several interesting findings, and it is believed that this research offers the educators and administrators further insight in analysing the current effect of cell phones on students' academic performance and the possibility of adopting mobile learning as one of the technological tools which supports technology enhanced learning.