Will Google find its way onto an iTV near you?

Could we be seeing the future of Google with the newly announced iTV from Apple?  It's not hard to imagine a Gapple iTV that that would not only allow you to consume media files on your home theater system, but also stream television content and display relevant advertisements from Google -- especially since this device requires a network to do anything useful.

Rumors have somewhat died about "Google TV" -- the speculation that they (or someone else) would manufacture a box to connect your television with the Internet.  Knowing that Eric Schmidt is sitting on the board of directors for Apple, a product of this sort is not too far fetched. Maybe it's time to start thinking about the possibilities being presented here.
The only piece missing from the iTV as they presented it today is streaming TV itself -- something Google could potentially offer with their close partnerships to companies like Viacom.  With years of experience in the advertising industry, Google could even be set to print a large chunk of cash using their finely tuned targeted advertising machine.

What do you think?  Is there a possibility of Google and Apple hooking up on this one to bring streaming television to the product?