A poll that recently went out to customers lays out the details more specifically.
When surveys go out to consumers from big companies, that tends to mean that something new is on the way. A Netflix survey went out shortly before the service was announced for the PS3 and a Netflix survey went out at a similar time for the Wii.
Now a survey has gone out to DirecTV customers. It doesn't ask about Netflix integration specifically, but focuses on what people like about Netflix over DirecTV and customer opinions on a new service. One of the pieces of the survey gives some specifics.
"In this next section, we would like you to evaluate a new service that DirecTV is thinking about offering to their customers," it says. "DirecTV plans to offer a streaming-only Netflix-like service for a flat fee per month, which would appear as a line item on your monthly bill."
Customers would be able to choose from thousands of movies and TV shows, but content would be limited a bit more strictly than Netflix. Past seasons of TV shows would be offered, but movies would all be over five years old.
It doesn't sound like something that would be capable of real competition with Netflix, but instead something that might tempt DirecTV subscribers to switch.