Today, Valve has announced the first part of it's plan to bring Steam to the living room.
This part takes the form of a free Linux-based operating called SteamOS. No exact release date is available, but they say it will be ready to download "soon".
Quote from their web site:
More here: http://store.steampowered.com/livingroom/SteamOS/

This part takes the form of a free Linux-based operating called SteamOS. No exact release date is available, but they say it will be ready to download "soon".
Quote from their web site:
As we’ve been working on bringing Steam to the living room, we’ve come to the conclusion that the
environment best suited to delivering value to customers is an operating system built around Steam itself.
SteamOS combines the rock-solid architecture of Linux with a gaming experience built for the big screen.
It will be available soon as a free stand-alone operating system for living room machines.
More here: http://store.steampowered.com/livingroom/SteamOS/
