Ever since Apple beefed up its Apple TV offering by announcing support for movie rentals from all the major movie studios back in January, the battle for digital distribution supremacy in the living room has been heating up. Recently, there have been a string of big announcements and today brings another: LG is releasing a Blu-ray player this fall that will have the ability to stream Netflix movies to your television.

If this sounds familiar, it’s because this marks the third announced device that works with Netflix’s “Watch Instantly” streaming-over-the-Internet service. Previously, Netflix rolled out its box with startup Roku, and then it announced a partnership with Microsoft weeks ago to bring the funtionality to the Xbox 360 gaming console. Netflix previously announced that it had a deal with LG to put its movies on one of its devices, but it wasn’t clear what that would be until today.

The LG BD300 will offer something no other set top box yet has: A combo of Netflix “Watch Instantly” and Blu-ray high definition video disc playback. The device will also o