For months now, rumors have persisted about Microsoft offering some sort of subscription television service to its Xbox 360.  This console generation, after all, was supposed to be as much about content delivery as it was about HD gaming, and while Netflix, ESPN, and Last.FM have all found homes on the 360, full-on TV broadcasting remains the exclusive domain of cable companies.  According to a Reuters report, however, that may all change very soon, as Microsoft is reportedly in talks to bring a cable-like online subscription service to the Xbox 360.

A pair of unnamed sources revealed to Reuters that Microsoft execs have held meetings with various media outlets to discuss the possibility of streaming television programs through Xbox Live.  These discussions have also included talk of interactivity being added to existing programming, as well as the ability for consumers to subscribe to specific channels.

While companies are slowly finding new avenues for the distribution of TV content, the field is not nearly as wide open as many thought it would be by now.  Microsoft’s plans may be in the early stages, but Reuter’s reports that the talks have been fruitful, so a roll-out of Xbox Live TV could be as little as a year away.  Any new entry in the market has to be seen as a good thing by consumers, if for no other reason than increased competition, which usually means lower prices.  An entry that allows consumers to interact with their media, as well as pick and choose the networks to which they want to have access would be even better, and would represent an important shift in the way we purchase our broadcast entertainment.