The Wall Street Journal has launched a new interactive video application for the iPad, Internet-ready TVs and set-top boxes. Titled “WSJ Live,” the app brings up to four hours of live TV from the Journal to the aforementioned products each business day. The available content includes breaking news, exclusive interviews and seven half-hour shows.

“WSJ Live brings our existing — and growing — stable of video programming to an unprecedented level of distribution and exposure,” explained Alan Murray, Deputy Managing Editor and Executive Editor, Online, for the paper. “Because of the broad scope, we have more opportunities to showcase our journalism by bringing breaking news, analysis and insight closer to our current readers while simultaneously tapping into new audiences.”

The app is free, so you really don’t have much to lose. Eventually WSJ Live is going to add Hulu and Hulu Plus, so after watching stock tips, you can turn on the latest episode of “Glee.” Or vice versa if you can’t wait for your dose of teen karaoke.