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iTunes Movie Rentals at $2.99 for 30 days?

FinancialTimes reports that Apple is in talks with Hollywood studios about launching an online movie rental service.

The iTunes movie rentals would reportedly be $2.99 for a 30 day rental, but would allow films to be moved to at least one other device -- such as the iPod or iPhone.

The target for this service is believed to be autumn of this year.

Steve Jobs has always been vocal that customers do not want to rent music, but has never specifically excluded the possibility of movie rentals. In fact, at the shareholder meeting responded to a question about movie rentals through the Apple TV, Jobs replied "One never knows."