"We just released IIS Media Services 3.0, a set of extensions for Internet Information Services 7 (IIS) that provide an integrated HTTP-based media delivery platform. This includes the new IIS Live Smooth Streaming and the separate IIS Advanced Logging package.

In addition, we released the beta of the Smooth Streaming Player Development Kit, which allows developers to easily create Smooth Streaming experiences using Silverlight. Supported features include PlayReady, DVR controls, instant replay, slow motion, multiple camera angles, alternate audio tracks, content protection, ad integration, ineam data feeds, and more. "

http://blogs.iis.net/chriskno/archive/2009/10/12/iis-media-services-3-0-including-iis-live-smootheaming-has-been-released.aspx