You can't rent movies from iTunes quite yet, although you should be able to at the end of the month. According to Home Media Magazine, Apple is delaying the release of the movie rental upgrade for its Apple TV set-top box.
The free software upgrade has not been finished as of yet, and this caused Apple to push back the release of this software until the end of February. It was initially announced by Apple CEO Steve Jobs at MacWorld, that the new upgrade would be ready by the end of January.
The software allows Apple TV users to rent movies directly from the set-top box and remote control. New releases will cost $3.99 for standard and $4.99 for high-definition, while library releases will cost $2.99 in standard and $3.99 in high-def.
The Apple TV unit requires an HDTV and broadband Internet connection, and all new Apple TV units will come with the rental upgrade.