Xbox Live is all about getting the most of your gaming buck, but sometimes you want to take a break and see how someone else is doing in gaming.  Starting today, there's an app for that.

Twitch.tv, a streaming service that specializes in letting championship and casual players show off their gaming skills to the world, has released a new app for Xbox Live.  This app allows folks to tune in to over 300 of the most popular streams for the service, whether you're in the mood to check out League of Legends sessions or a Halo 4 competition.  The app is free of charge (though it requires a Gold Account) and features a slick dashboard with organized channels and details galore.

In addition to today's app launch, Larry "Major Nelson" Hyrb will take part in a special Twitch broadcast next week following the May 21st Xbox Revealed event to answer questions from people and talk more about the system.  It'll happen around 3 PM EDT on May 21st, so tune in!

Check out this trailer to see the Twitch.TV app in action. Maybe we should stream some gameplay sessions…