The BBC, ITV and BT are set to team up to develop a set top box that would deliver IPTV over your broadband connection to your TV set.
The plans, with the necessary approval from the BBC Trust, would see the development of "a common industry approach and consumer offer". This would mean all the BBC iPlayer and ITV OD content would be available on your TV.
The plan would be to bring standardisation to IPTV delivery, thus making it easy for anyone wanting to bring content over the internet to a TV, as well as the standard channels available on Freeview and Freesat, which means it's possible HD content could be included as well.
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It also seems likely that the project will include more partners in the near future as well, as the group hopes to "involve a wider group of partners by launch".
"Audiences tell us that they want more services through their television set," said BBC director-general Mark Thompson.
"I am pleased that the BBC is working with industry partners such as device manufacturers, ISPs and other content providers on proposals which will bring real benefits for consumers."
Five released this statement following the announcement: "Five welcomes the proposals the BBC have announced today on PSB Partnerships.
"We believe the ideas they have outlined could make a significant difference to sustaining the Public Service Broadcasting system - in particular sharing the iPlayer and developing IPTV. We look forward to discussing them further with the BBC, ITV and Channel 4."