From “Netflix on PlayStation 3: The Great Sony-Microsoft Equalizer?“:

Surprising no one, really, streaming video maven Netflix will roll out its online TV and movie rental service to North America’s nearly 10 million PlayStation 3 owners in November. Sony will announce the deal later today in an action that knocks one of the Xbox 360’s “exclusive” pillars out from under Microsoft’s games platform.

Another knock: It’ll be free to PS3 owners. Contrast with the $50 a year fee Microsoft charges for access to its “Gold” tier Xbox LIVE services, one of the principal being Netflix access. You’ll still need an independent Netflix membership, of course, which starts at $9 a month and can run up to $17 depending on the number of movies you care to check out simultaneously.

This Christmas season is shaping up to be real interesting for Sony.

Some more links:
Free Netflix Movies On PS3 Is A Game-Changer
PlayStation 3 Adds Netflix to Its Queue This November
Next up: movies streaming to the door of your microwave oven