LOVEFiLM's streaming service is already available on computers and on "Sony Bravia Internet Video TVs, Blu-ray players and Blu-ray Home Theatre kits." According to the company, its service has 1.4 million subscribers, while the PlayStation 3's UK install-base is over three million.
The service will run through the PS3's Xross Media Bar (XMB), "providing most members of LOVEFiLM on subscription packages access to thousands of titles from major studios and independents." The European PlayStation Blog explains that "LOVEFiLM subscription packages of 5.99 pounds or above" are required for PS3 access.
The service will support browsing and searching through categories directly on the PS3. More details and features will be announced closer to launch, but no date has been set. Free trials will also be made available to PS3 users that do not currently subscribe to LOVEFiLM.
Great news, so much nicer streaming things to my TV!