Yesterday (3/10/14) when iOS 7.1 was released I also upgraded to Xcode 5.1 and found that my PhoneGap/Cordova project would no longer compile to my iPhone 5s. I also upgrade
They just released a new version 3.4.1 that address this issues.
Therefore I update a single file to point to the TAG 3.4.1:
/usr/local/lib/node_modules/cordova/platforms.js
line 24 from:
version: '3.4.0'
to:
version: '3.4.1'
Then you remove the iOS folder in your project and run:
cordova platform add ios
This will download the new template based on 3.4.1 with all the patches.
Downgrade Xcode 5.1 to 5.0.2 worked for me, I could not wait for an official Cordova 3.5 release with the fix.
You can get a copy of the previous version here: https://developer.apple.com/downloads/index.action