OnLive Inc. announced their on demand video game platform at GDC this week. The OnLive service and console streams advanced video game instantly to any TV using their inexpensive MicroConsole.

The new platform is supported by many of the top names in the video games industry including Electronic Arts, Ubisoft, Take-Two Interactive Software, Warner Bros. Interactive Entertainment, THQ Inc., Epic Games, Eidos, Atari Interactive and Codemasters. According to the press release, “it typically only takes a few weeks to extend an existing version of a game to work on the OnLive service, so there is little cost incurred by developers and publishers to support the OnLive platform.”

Speaking to Edge Online, Wedbush Morgan analyst Michael Pachter commented, “We don’t expect an immediate impact [on console sales] (the service likely will be rolled out in early 2010), but think that if priced right, OnLive could favorably compete for 1-2 percent of the overall games market.”