Google Labs just announced that they are now providing a video search engine. Details in a BBC article here. This is slightly different than the video search announced by Yahoo earlier in that is indexes the closed caption content provided with television shows and returns results that show where in television segment the search terms were spoken and then shows a screen capture from that segment.

For an example, here’s a persistent search showing mentions of the word blogs.

It’s still in the labs so the actual video footage is not available but if they do point to when the show aired and when you might be able to catch the segment again. If Google delivers on what they are writing about, this could be a version of Google acting as a gigantic, internet-enabled TiVo for the rest of us.

More detail with screenshots here on the about page.

UPDATE: According to CNet, Yahoo has been working on a similar index of closed caption video text of Bloomberg and BBC programs in their partnership with TVeyes. The article also mentions Blinkx but I couldn’t get it to pull up any meaningful results.