It looks like the very popular DivX video codec may soon be supported by the Xbox 360 and the PlayStation 3. While it is still only a rumour for Microsoft’s platform, it has been confirmed for Sony’s PlayStation 3.

Adding DivX and Xvid to the PlayStation 3 means that movies that I have downloaded using the codec can now play on the machine, and that would be very nice. It also means that content put out on many of the mainstream new media channels using the codec can also be played.

DivX CEO Kevin Hell said in a statement, “We are excited to work with Sony Computer Entertainment to bring DivX to PS3. Our technology will expand the multimedia functionality of PS3 by enabling users to enjoy access to the broad library of content in the DivX digital media format.”

This whole movement doesn’t really surprise me as the quality and compression of DivX is bar far one of the best I have seen, and both Xbox 360 users and PlayStation 3 owners are probably super excited over these developments.

For more information on the development, check out Ars Technica’s report.