The PS3 is going 2.0! According to Video Business, Sony has announced a new firmware upgrade for their Playstation 3 that will make the gaming console the first ever Profile 2.0 Blu-Ray player. This profile also includes BD-Live, which will allow users to download content from the Internet via the Ethernet port and will also allow for picture-in-picture playback, which the Profile. 1.1 does not offer.

"With Blu-ray established as the high-definition optical disc standard, more consumers are ready to jump in and take advantage of everything the format offers," said Scott A. Steinberg, VP of product marketing at Sony Computer Entertainment America. "Whether you want to download movie extras, send ringtones to your phone, or play interactive games, BD-Live will offer exciting new ways to enjoy a Blu-ray movie. With these regular firmware updates and future-proofed technology, SCEA is making the 10-year lifecycle of PS3 possible."

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This firmware upgrade is said to be available at the end of March, although an exact date wasn't given. The BD-Live upgrade has been expected for practically the entire year. There are already several BD titles that offer BD-Live fetures such as War, which features an online fighting game and Saw IV which has an online movie blog.

We'll keep you posted when the actual date for this upgrade is released.