Long Zheng reports in his blog earlier this week that "a trademark application in Australia... looks to be for a video-on-demand service from Microsoft yet to be identified has been made available publically."

Ars Technica picked up on Zheng's report noting that "the trademark description also mentions downloadable video content, as well as the ability to transmit photos, video, and music over their broadband connections."

Sounds familiar. ;)

Ars also picks up on Zheng's reference to Joost, in that "Media Center already has the ability to record shows, view pictures, and listen to music, so adding on-demand TV or movie programming would be a natural extension of the software's abilities. A Joost-like service could also be incorporated into the Xbox's video offerings, rounding out the console as a full-on media center."

Perhaps a new chapter in Xbox Live video services? Sounds interesting.

[Added later... Fortune reports "Joost just received $45 million in funding in a recent round of venture capital funding. In another sign that Joost is becoming the go-to web video site for the media establishment, the site just inked a deal with the big-time talent and literary agency CAA."]