Now that would be interesting to find out. Seing as Eric Shmidt is on the Apple board of directors now, will we see some form of Google presence on iTV, possibly streaming content from Google Video and much more. Maybe their own TV channel supported by advertising. iTV could become a really great device.
Whatever happens, even if this project doesn’t involve Google, sooner or later they will do a joint project and to have the two of the most innovative companies working together is an exciting prospect.