Game accessory company Hori offers a little box that allows to record TV programming directly on a Sony Memory Stick Pro for the Sony PSP.

There are lots of software solutions to convert videos for the Sony PSP, the Hori Video Recorder just makes this a lot simpler. The device just connects to video ports on a TV or DVD player and records the video signal in a selected quality. The Hori recorder is not a PVR. It just records what is coming in at the video port. No timer function or stuff like that.
The Hori Sony PSP video recorder is coming in November to Japan. It will be available through Lik-Sang internationally for $129.90.
There is another Sony PSP video recorder from RockRidgeSound. The VRX02 Direct Recorder might be available sooner. The device also records in Nintendo Play-Yan format and onto SD-Cards.
Lik-Sang offers the VRX02 for pre-order at $195.00.