Via PSPUpdates.com, the newly released OS Update for the PSP will have support for Sony’s LocationFree technology, allowing PSP owners to stream video content, including live television and shows recorded on a DVR, directly to their PSP on a wifi network. That means you can be sitting in a hotel room across the country and watch your favorite shows on your PSP streaming them from your house, through your always-on internet connection, through the hotel wifi connection on to your PSP. The price appears to be $350 for a base station, if you don’t already own a Sony LocationFree TV.

It sounds pretty cool, albeit a bit pricey. Hopefully (although unlikely), the LocationFree technology uses a standard protocol, allowing developers to take advantage of it to provide direct support to streaming without a base station. I’ve been reluctant to upgrade my PSP from 1.5,which has the ability to run homebrew apps like game emulators, but more and more, I feel like I’m missing out by using an out of date OS.