We have great news GTV fans! Google updated Google TV with some new features. You can now rent or buy music, movies and TV shows through the Google Play Store on the Google TV. Here's a quote from the Google Blog Post with the full skinny,

Starting today more of the Google Play experience will come to your Google TV. Google Play Movies, TV shows, and Music will be rolling out to your Google TV over the next few weeks. You’ll be able to buy or rent content directly through the Google Play Store on Google TV, and purchases you’ve made on other devices will also be automatically available on Google TV. Google Play titles will also be discoverable through our TV & Movies app, which brings recommendations for shows and movies available on live TV and apps like Netflix, Amazon, and now Google Play.

For developers, this update also enables many other Google Play features including auto-updates, subscription billing, and smart app updates.

Google Play gives you one place to find, enjoy and share your favorite entertainment with millions of songs and thousands of movies and TV shows for sale, and adds to the millions of entertainment options available for you on Google TV through YouTube, TV & Movies, Search and the full web through Chrome.

And you’ll be able to buy or rent content directly through the Google Play Store on Google TV, and purchases you’ve made on other devices will also be automatically available on Google TV.
We were wondering how long it would take them.

Source: GoogleTVForum.org via Google Blog