We have talked about the tiny little Raspberry Pi media streamer several times in the past. This is a little mainboard you can buy for about $35 that hooks your TV and allows you to stream all sorts of content to the big-screen. In case you forget, the little board has an ARM processor integrated and ships with no case. It's more like a bare-bones computer than something along the lines of the Boxee Box that is a complete finished product.
Despite the small size, the Raspberry Pi has enough power to support 1080p video and can run the XBMC software. That XBMC software is a media center platform that works in a very similar way to the Boxee Box. There is a good reason for that similarity; Boxee was a spin-off from XBMC years ago. XBMC will come to the Raspberry Pi hardware in a form called Raspbmc, which is being worked on right now.
The new software will require the help of a computer running Windows, Mac, or Linux to install. Once installed you end up with something that looks very much like the Boxee Box media player at a much lower cost. Check out the video below to see Raspbmc running on the Raspberry Pi yourself.