Hulu has officially announced Hulu Plus, a new $10 a month subscription service. Hulu Plus will offer a whole slew of video including current season’s episodes from shows on ABC, NBC, and Fox and over 120 seasons of library content.

Hulu is coming out of the gate with hardware support, the Hulu Plus application is already available on the App Store and there will be support streaming support for the Xbox 360 and Playstation 3 soon.

I don’t know if it will convince too many to cut the cord, but it is incredibly compelling.