Film fans rejoice as it appears that the movie service Lovefilm will be coming to the PS3 in the very near future - possibly as early as next month.

The news comes in from vg247 and a PlayStation YouTube channel "LOVEFiLM is coming to PlayStation 3" which described how the service will allow PS3 owners to stream "thousands of movies" via the XrossMediaBar - the video has now been taken down.

Films available will include the latest blockbusters, as well as a whole host of genres which will include the latest indie films. Existing customers will apparently be able to manage their accounts using the new system, and will be entitled to all the functionality the PS3 Lovefilm release brings.

For us in the UK this is a timely announcement, as unlike our US cousins who get Netflix, we are yet to get a streaming service on the PS3.

Lovefilm for the PS3 should become available sometime in November 2010.

UPDATE: Lovefilm on the PS3 has now been made official.

Let us know you thoughts on the latest Lovefilm announcement in the comments below.