According to a blog I stumbled across, the Zune will allow you to stream your Zune content to your XBOX 360. Read article below:
"We also worked closely with our co-workers in Zune to make sure the experience with a Zune device is handled really well on the Xbox 360. We expect that streaming videos, music and pictures will be popular with folks and I look forward to increasing the support between the two devices. Also with the Zune software on your PC you can stream AAC encoded files to your Xbox 360, something that wasn?t possible prior to this release."
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