Today at the Moscone Center in San Francisco at Google I/O, 5,000 plus people watched in the room and 110 cities tuned in from places like Cairo, Egypt, where it’s 2AM in the morning. Just announced at Google I/O, Android users can now rent movies from the Android market on the web, on the tablet and on your mobile phone, choosing from thousands of movies, competitively priced $1.99 -$3.99.

On the tablet: “Pinning Movies” on the XOOM tablet means they are automatically in the background, downloaded to your device. Playback includes an HD experience. Once you start watching you have 24 hours to complete your movie.

On mobile: Renting movies on your phone will be available in 2 weeks.

Start renting movies on the web here. It appears this is U.S. only for now.

Screen shot 2011 05 10 at 12.29.02 PM 500x266 Google I/O: You can now rent movies from the Android market