It does in fact work as described and is fairly compact.
Movo FXLR-PRO 3.5mm (TRS) Mini-Jack Female to 3-pin XLR Male Adapter with Integrated Phantom Power Converter
The price is right! This is a very handy product that should be in every sound guy and video/photo guy's toolbox or bag. It is a great idea, and well manufactured product. Thanks for making this!