Apple just announced at a media event occurring in San Francisco’s Yerba Buena Center for the Arts that an updated Apple TV set-top box is capable of 1080p video output. Of course, 9to5Mac was the first to call that one. What is better: iCloud now streams movies in 1080p—an upgrade from the previous and often criticized 720p video resolution. Even more importantly, you can now access purchased movies in iCloud any time you want, just like with music and television shows.

Also updated is the Apple TV’s user interface. It is now more streamlined and taking advantage of the full 1080p video resolution. The new interface takes clues from iOS with its shiny new icons and the beautiful Cover Flow view. The new Apple TV has the same low price of just $99 and is available for pre-order today with shipments beginning March 16. In addition to the new Apple TV, Apple has tweaked its pricing matrix for movies and television shows on iTunes to reflect 1080p content. More on that below.

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