Come the holidays, you’ll no longer have to watch downloaded movies from Netflix on your computer screen. You’ll be able to watch them in the comfort of your own living room...IF you own an Xbox 360.

Microsoft Corp. and Netflix, Inc., just announced an exclusive partnership to offer consumers the ability to instantly stream movies and TV episodes from Netflix to the television via the Xbox 360 video game and entertainment system. Of course, this movie watching innovation will only be available to Xbox LIVE Gold members who are also Netflix subscribers. But if you meet those qualifications, there is no extra charge.

A growing library of more than 10,000 movies and TV episodes will be available from Netflix when it launches on Xbox LIVE in late fall, with more choices added over time. Through this agreement, along with the existing Xbox LIVE Marketplace Video Store, Xbox 360 will be home to more movies and TV shows on demand than any other device connected to the TV.

From the Netflix Web site, members add movies and TV episodes to their individual instant queues. Those choices will be automatically displayed on the TV screen via Xbox 360 and available to watch instantly. Once selected, movies will begin playing in as little as 30 seconds. You can also fast-forward, pause and rewind, all using either your Xbox 360 Controller or Media Remote.