"Just type what you're looking for, immediately search from thousands of titles you can watch instantly, and update your Queue, all right over Xbox LIVE," the company explained. "We're making your entertainment easier to discover."

Much like its disc-enabled streaming functionality on Wii and PlayStation 3, the downlodable Netflix for Xbox 360 program requires users to have an active Netflix subscription and internet access. Unlike other consoles, however, Netflix on Xbox 360 also requires users to have purchased or redeemed an Xbox Live Gold membership.