a little matlocking (or just reading the netflix ad on my 360) led me to the article released on the xbox website
Obviously, Netflix and microsoft have teamed up.
However, the announcements and speculation may be deceiving.
"This movie-watching innovation will be available to Xbox LIVE® Gold members who are also Netflix subscribers, and will let those users enjoy streaming movies from Netflix on Xbox LIVE at no additional cost."
The way I read it, you have to be a subscriber (aka having movies sent to your home) to partake in the website to 360 streaming fun.
Xbox 360 and Netflix Team Up
read the article, and decipher it as you will.