Microsoft’s Zune music player will indeed support Live Anywhere, according to an unnamed source 
that spoke to Digital Music News. Interestingly, there is still no confirmation of gameplay.
While I’d lovev to think the thing will play Live Arcade games, according to the same site it will only come with a 30GB harddrive, making it too small to hold the full-sized, unported titles, or at least most of them. Zune to Support Live Anywhere - Kotaku