Steve Jobs talked about Airplay during the Apple TV announcement back in September, and it's one of the many reasons I'd recommend the Apple TV to the TV- and movie-watching masses, and now you can stream movies and TV shows right from your iTunes account. You should see the iTunes 10.1 update pop up on your Mac, but you can always head to Apple's iTunes page to download it from there as well.
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If you're one of the many who bought a new Apple TV this year, then the latest iTunes 10.1 download is something you'll want to jump on right away. The download brings some stability and performance enhancements and syncs with your iOS devices (iOS 4.2 update said to be coming today as well), but most importantly it brings Airplay.