Online DVD rental service Netflix is lifting its limits on how long most subscribers can watch movies and television shows over high-speed Internet connections, according to The Associated Press:

The change will "become effective Monday, on the eve of Apple's widely anticipated move into the movie rental industry. Although Apple hasn't confirmed anything yet, Chief Executive Steve Jobs is expected to make it official during a presentation Tuesday in San Francisco."

Until now, Netflix had restricted how long its more than 7 million subscribers could use the streaming service each month, based on how much they pay to rent DVDs, according to the report. One example was the usual $16.99 per month plan that lets customers rent up to three DVDs at a time. With that plan, each customer was also allowed 17 hours of Internet viewing time for the (much more limited) selection of movies Netflix made available to "Watch Instantly." Now that time limit is being lifted.

There's a big difference between this and what Apple may announce this week: if Apple announces an online movie rental service, you can bet it will work with the iPhone and video-capable iPods.

Netflix expands Internet viewing option [AP via Yahoo! News]