During CES in January, Microsoft and DirecTV announced a "long-term agreement to expand the reach of digital content throughout the home and on the go." Part of that agreement involved extending "the DirecTV experience to the Xbox 360 system."
A scan of the March 2006 issue of Official Xbox Magazine reveals "that a DirecTV blade might be added to your Xbox 360 Dashboard to accompany the Xbox Live, Games, Media, and System blades. In that blade, you could download TV episodes in high definition, HD movies on demand, and standard-definition streaming DVR (i.e., TiVo) functions."
Looks like the PS3 won't be the only next-gen system with advanced media capabilities. Now the big question is, what'll it cost us?