Rumored to be working towards starting the new service which would offer a 30-day rental for about $3 dollars.

Apple's rumored to be in talks with major Hollywood studios to launch a new movie rental service sometime in the fall. A 30-day movie rental will set you back about $2.99, a price somewhat comparable to Blockbuster Video

The price doesn't sound too bad considering you don't have to hassle with returning the movie plus you get to it to keep for 30 days, but considering it's basically limited to being viewed on pretty much any screen but a living room TV the service probably won't be for everyone.

What might make it enticing is that users would be allowed to watch rented movies on an iPod or iPhone as well, making it a true on-demand service in every sense. One could rent and watch a movie using their iPhone while waiting in an airport or at the DMV (Dept of Motor Vehicles).

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