We consider the Poisson Boolean model of continuum percolation with balls of fixed radius $R$ in $n$-dimensional hyperbolic space $H^n$. Let $\lambda$ be the intensity of the underlying Poisson process, and let $N_C$ denote the number of unbounded components in the covered region. For the model in any dimension we show that there are intensities such that $N_C=\infty$ a.s. if $R$ is big enough. In $H^2$ we show a stronger result: for any $R$ there are two intensities $\lambda_c$ and $\lambda_u$ where $0< \lambda_c < \lambda _u < \infty$, such that$N_C=0$ for $\lambda \in [0,\lambda_c]$, $N_C=\infty$ for $\lambda \in (\lambda_c,\lambda_u)$ and $N_C=1$ for $\lambda \in [\lambda_u, \infty)$.