Apple has announced that it is updating the Apple TV, adding 1080p and a number of other features.

The new box, which will look the same and cost the same £99 as the current model, will add the features in time for the new iPad to benefit from enhanced streaming capabilities.

The new Apple TV will get a new HD user interface, and movies and TV Shows are now supported from iCloud. Owners of the existing Apple TV will also receive an update to the new interface, but they'll continue to have 720p support only.

The new Apple TV will let users stream content in 1080p - previously it was 720p.

Apple TV also gets Genius support to recommend movies and TV shows to you. 

“Apple TV is easier than ever to use with its new icon-based interface and the ability to access your purchased movies, TV shows and music right from iCloud”, said Phil Schiller, senior VP of worldwide marketing at Apple.

The news is likely to be welcomed by Apple fans looking to take advantage of the new streaming option coming to the company's new operating system OS X Mountain Lion, launching in the Summer. The feature called AirPlay Mirroring will allow desktop users to stream their screen to the Apple TV to let them enjoy their desktop on a big-screen TV, Apple has said that the new feature should allow 1080p streaming from the desktop.

The new Apple TV will be available on 16 March. 

UPDATE: The new software version of Apple TV is available to download for all current Apple TV customers.