Sony announced last week the new 2.20 firmware for the Sony PS3, that introduces BD Live to the PS3. Today Sony released the system update.

There are no surprises in the firmware 2.20 release. The rumors that the update would allow to copy Blu-ray movie to the Sony PSP are false.
Besides BD Live, the new Sony PS3 firmware features DivX and WMV format videos larger than 2GB, PSP playlist editing, and resume playback amongst others.
The 2.20 update is available globally now.
Details via the Sony Playstation site (Japanese).