Netflix and Sony announced that the Sony PS3 would be getting Netflix enabled. Netflix streaming is very nice to have and was already available on the Xbox 360. Now the PS3 has it too.

To run the Netflix streaming you need a disc Netflix is sending out when you request one.
Engadget has a story featuring a video demonstration of Netflix in action from a user who already received a PS3 Netflix DVD. The Netflix UI looks very smooth on the PS3. You can see the walk through below.

Currently for $8.99 a month, Netflix members can instantly watch unlimited movies and TV episodes streamed to their TVs, computers and Netflix ready devices and still receive unlimited DVDs delivered quickly to their homes.