Apple has officially announced movie rentals for iTunes. Studios involved include Touchstone, MGM, Miramax, Lions Gate, Fox, Warner Brothers, Walt Disney, Paramount, Universal, and Sony, just to name a few. The new feature will launch today with 1,000 available films by the end of February -- prices will come in at $2.99 for a regular rental, and $3.99 for new releases. You'll be able to begin watching your movie in 30 seconds, and will have the rental for up to 24 hours, during which time you can transfer the file to an iPod or iPhone and take it on the go. Additionally, you'll be able to nab HD rentals for just $1 more, respectively.

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Apple introduces iTunes movie rentals, HD rentals