If you have the unlimited movie rental plan with Netflix, you can now also watch unlimited streaming movies through Netflix service online. Popular online video rental service Netflix has announced that they are removing the restrictions with their online streaming movie service for customers with the unlimited movie rental plan. If you don’t have an unlimited plan however don’t worry. You can watch 2 hours a month of video through the Netflix streaming service.

Netflix has spent over $40 million developing its streaming service and it looks like we could see some major new developments regarding the service in 2008. Netflix has announced that they are working with popular electronics company LG on a box that will bring streaming internet rentals right into your livingroom, enabling you to stream movie rentals from the internet directly to your TV. Although pricing and specifics are not available we expect this device to be released some time in late 2008.