You can now pick up Hulu Plus from the Android Market, and it will run on 6 specific Android phones. The compatible phones are the DROIDX, DROID2, HTC Inspire 4G, Atrix 4G, Nexus S and Nexus One. Keep in mind this is for the subscription based advanced version of Hulu that costs $7.99 per month. There is some indication that it does not work if you are running a CM7 mod... strange.
Source: Android.net via Droid-Life and Android Market