What is Microsoft's Xbox SmartGlass?

(CBS News) Microsoft announced Xbox SmartGlass at the Electronic Entertainment Expo (E3) in Los Angeles Monday. So what exactly is it?

No, it's not a physical type of glass. Xbox SmartGlass is an application that can run on computers, tablets, smartphones or the Xbox 360 video game console. It's meant to work as a companion for watching television via the Xbox 360, with the app providing additional information in accordance with the users' interests.

"To work with a video, the content or app will have to be designed to interface with Xbox SmartGlass," said CNET senior editor Scott Stein, who got a closer look at Xbox SmartGlass at E3.

"Xbox Live has gained access to Paramount's library of movies, and Paramount films could be among the first to work. The movie 'School of Rock' was shown working with SmartGlass, skipping scenes and calling up biographical information and related videos."

Xbox SmartGlass will be available this fall.

CNET full coverage: "E3 2012: A closer look at Xbox SmartGlass"