The Quickflix app, available to download from the Marketplace today, was announced for the Xbox back in April. It is already available on the PS3 and Sony, Samsung and Panasonic televisions.
It's also available on iOS devices and the Samsung Galaxy Tab 2, Galaxy SIII and certain products from Kogan and Humax.
Like other streaming options on the Xbox 360, you require a Gold membership to access the service, essentially making it a more expensive way to access the entertainment portal. You do get the benefit of Kinect voice and motion controls though.
To access the Quickflix service, you need to pay a minimum of $15 a month, with additional, more expensive plans incorporating the rental of physical DVDs and Blu-rays.
There is also the ability to rent the latest release movies for a pay to play fee in addition to the subscription.
Wall Street Journal news
If up to the minute news is more your thing than watching the latest movies or TV series, Microsoft also launched the new Wall Street journal app on the Xbox console today.
Offering over four hours of live programming each day from more than 2000 reporters around the world, the free app promises up to the minute news reports directly to your console.