Microsoft India has just announced that the Xbox Live service will finally become available (in India) on November 5th and that, to help make up for the astonishingly long delay, the service will come with some exclusive content and services.

Indian gamers have previously not had access to the Xbox Live service, including XBLA, and have been asking for Microsoft to introduce it over there for a long, long time.

The new service will be mostly similar to the international service, with silver and gold memberships available at a cost, but will have several important differences - namely a movie download and game rental service.

The movie download service will offer already-released movies from Bollywood for download, as well as trailers for upcoming films. The game rental side of things will be run through a partnership with a film rental company called Seventymm and will allow Live users to rent the Xbox 360 games for a fixed number of days via an online sign-up.

"We have just celebrated the first anniversary of Xbox 360 in the country this year and it is with a celebratory spirit that we offer our Indian consumers even more entertainment options on Xbox 360." said Robbie Bach, global president of Microsoft's E&D Division.

Hopefully it won't be long before the new services are rolled out worldwide as we're very interested to see how successful the game rental system will be.

What do you think about Xbox Live and the various services on offer? Do you still rent games or do you just buy or torrent them, you evil game-pirating n00b? Let us know in the forums.