Apparently the company is in talks with the major studio companies out there and should be offering the service soon.
There has already been a ‘glitch’ that leaked the possibility too.
On one of Apples Support forms an option in the drop down menu was listed as ‘RentaMovie’ which would make it seem that they already support the feature that isn’t available :-p
Over the past couple of weeks Apple has recognized that their TV show pricing is too high and when they thought about trying to drop these prices they caused quite a ruckus with the TV studios.
Of course the likelihood is that this will be a digital movie download service. I guess the movie would expire after a certain period, or something like an on-demand service.
Hopefully they would have the foresight to price the movies really, really competitively. I wouldn’t but TV shows or movies from iTunes right now because they’re pretty expensive and if I’m going to spend money like that I guess I want something physical for my money.