If you could take Google’s non-intrusive ads, and combine it with TiVo, you might get TVnGO.
(Israel 21st Century) TVNGO features Internet contents formatted for TV screen (streaming movies, videos, web sites), which can be changed by the viewer with his remote control. Broadband channels and Internet contents are shifted in a seamless manner including situations when blended Internet and broadcasting show a single frame. [...]At the same time, Merlin says that TVNGO also offers TV advertisers a new media he calls the ‘Third Media’ – “Non intrusive TV ads with Internet capabilities, low cost, no production cost and no time to air.”
“There’s nothing else like this – we’ve patented the technology and the advertising model. This is the first time that you can advertise on TV using overlays,” he added.
Apparently this service will be free to all users as TVNGO funds itself through the ads displayed in the top left corner of the screen (which you can access via remote). If TVNGO ever finishes their second round of testing in Israel, they should seriously consider heading towards the US and Europe.