Netflix officially announced a partnership with Sony to bring its “watch instantly” service to the Playstation 3. The service is expected to begin next month and will come at no extra cost to existing Netflix customers.

“The PlayStation 3 system has always been about more than just gaming, and it will soon be the only platform in the industry to offer consumers such a variety of convenient options for enjoying movies and TV shows,” said Jack Tretton, president and CEO, SCEA. “Whether you want to watch content on Blu-ray disc and DVD, download it from the PlayStation Network’s video delivery service, or stream videos instantly from Netflix, the PS3 system is the only solution that offers it all.”

“As instantly watching movies and TV episodes streamed from Netflix becomes an increasingly popular way to enjoy the Netflix service, our goal is to rapidly expand the devices that stream to our members,” said Netflix CEO and co-founder Reed Hastings. “As a leading game console and Blu-ray disc player, bringing Netflix to the PS3 system is a real win for both Netflix members and PS3 system owners.”

Movies will be made available by a free, instant streaming Blu-ray disc that’s available to all Netflix members.This will leverage Blu-ray’s BD-Live technology to access the Internet and activate the Netflix user interface on the PS3 system with an active internet connection. Member’s simply insert the disc into their PS3 to show which movies and television shows are available for streaming. Along with being able to select content to watch, users are also able to add movies and television shows to their queue. Users can also use their PS3 controllers to fast forward and rewind.

Current Netflix account holders and PS3 owners can request their free instant streaming disc at http://www.netflix.com/InstantStreamingDisc. If you’re a PS3 owner and aren’t a Netflix member, their plans begin at $8.99 a month.