The big picture.

Well, it's official. Valve has announced the "Big Picture". This allows Steam games to be played on your living room TV. Details are vague at this point. Is it a console? Is it a way to stream your game to your living room? What ever it is, Valve just may change the gaming world as we know it.

http://www.steampowered.com/steamworks/thebigpicture.php