Here is what is in store for the big fall update for Xbox Live.  These are some of the highlights. There is also added divx and xvid support as well. Very cool if you use the 360 as your media center so you can stream…well… you know.

• Improved Video Library.
• Improved visuals and descriptions.
• Users can now sort movies and TV Shows in the video library by Title or (Download) Date.
• TV shows can now be grouped by Series .
• Group video and game trailers .
• Art associated with personal video files on a portable device will now be displayed.
• Easier to use media areas and improved metadata .
• Improved source selection for video, picture, and music libraries, making it easier to switch between console/digital camera, computer, portable device or disc.
• New “Suggested Items” link for downloaded movies.

For the full list, click here.