I deleted the backup file using iTunes I shouldn't have deleted it.
Okay I get it now, you knew to go through iTunes. For some reason I read it as you deleted the files manually from the folder you're looking for.

Macintosh HD/Users/you/Library/Application Support/Mobile Sync/Backups is where the files are stored. You should restore the whole Mobile Sync folder.

The Library folder is hidden in Lion. Go to the Go menu in the Finder, hold down the Option key and Library will show up. Open the Library folder, then go to the TM menu and enter Time Machine, restore the Mobile Sync folder from there.

HTH smile

Edited by Reboot (03/16/12 11:51 PM)
Edit Reason: Changed folder path.