There is challenge coming the way of the 'big three' in the game console industry - a fledging video game company OnLive is working towards providing a "cloud-based" gaming system, with the assurance of on-demand access to games and no holdup time.

The game console form OnLive is a wee bit bigger than an iPhone, and links TVs and broadband connections to the OnLive service. Operated by the means of a wireless controller, OnLive delivers games run on servers in the "cloud," instead of being run locally on a PC or a console.

The comprehensive service of the OnLive upstart boasts of the facility of allowing the playing of games on almost all TVs and personal computers - including even the stripped-down netbooks and PCs sans graphics processors.

After having spent nearly seven years on the development of its game console, OnLive has already managed to strike strategic deals with as many as ten publishers - including biggies like Electronic Arts, Ubisoft, Take Two, and THQ - for making available new game titles when they hit the stores.

Talking about the convenience of the OnLive service and the easy of accessing games, the company's founder and CEO Steve Perlman said: "When you want to play a game, you just click a button and it plays instantly. It's that simple!"