According to AppleInsider, Apple is putting the finishing touches on a brand new feature to iTunes 8 that will allow iTunes video purchases to be streamed anywhere for playback.
The service is said to be named iTunes Replay will see Apple storing users content for them, thus eliminating space constraints with large iTunes movie and TV show files. AppleInsider is unclear on whether Apple will be charging for the service but states that it will apply to both TV shows and movies purchased on the iTunes store.
AppleInsider goes onto speculate that devices such as the Apple TV, iPhone and iPod touch could benefit greatly from the services due to storage constraints. The site also refers to a recent article on Apple's decision to employ two Content Delivery Networks which could significantly improve said streaming service.