Unless this is an April's Fools joke...
(it's appeared in many news sources)
http://www.onlive.com/
Basically to play high-end games the only thing you need is Flash. The game is run in a remote server and your machine is simply streamed the video. There's also an option to buy a light "console" you can plug to your TV set, but just the same it will only receive video from a program run "in the cloud".
Huh?