Is Google getting into the VoIP business?

It seems like only yesterday that appeared on the scene with it's free VoIP service. Recently, Yahoo and AOL both released products that bundle VoIP in their IM clients. Now it appears that Google may be getting in the game as well with a new service called Google Talk. Speculations are pointing in the direction of an messaging infrastructure based on Jabber, an open source product that supports a federated IM client capable of communicating with many popular IM clients currently in use, such as ICQ and Apple's iChat, similar to the way Trillian works. Add VoIP to the mix and Google Talk could be the most powerful new IM client to hit the streets since Skype. There's no word about whether Google Talk would support Skype's conference calling and encryption-based security features. Without those features, Skype may be able to maintain it's edge on competition from the big boys.