Claiming to offer "over 10,000 Hollywood blockbusters" and a host of TV series for instant streaming, the Blinkbox app is free on both platforms.
Blinkbox on Xbox Live also supports Kinect, allowing you to browse the library of titles using motion and voice commands.
The iPad app gives you access to content you have already purchased, allowing you to watch content wherever you have a wifi connection.
Blinkbox is already available on PC, Mac, PS3, selected tablets, and LG and Samsung internet TVs.
You can stream films instantly, the same day they're released on disc, with new films costing around £3.50 to rent or £10 to buy.
The company recently announced a partnership with Tesco, giving clubcard holders a free digital copy of films bought in Tesco stores.