The search and online video giant, Google, has secretly struck a deal with Netflix to purchase the company, sources close to the deal said. The deal, which sees Google paying an, as yet, undisclosed amount for the subscription-based streaming video service is a move to bolster premium content delivery through YouTube, the online video sharing site Google purchased for $1.65B back in 2006.

There have been wild amounts of speculation as to how exactly Google was going to make YouTube profitable and many deals have been in the works to stream pay-per-view content through the video sharing site. With the acquisition of Netflix, Google gets both a built-in userbase of Netflix subscribers and access to many Internet-connected devices like Boxee and Roku via previously built deals. Plus with Netflix already offering streaming only packages it should be quite easy for them to tie the two services together.

The move also gives Google an instant streaming video presence in Canada where Netflix recently expanded as a pseudo-test for other International expansion.

Google has been testing various premium content delivery models at YouTube for some time and it seems they finally settled on simply purchasing a market-leading service in Netflix and tying it into YouTube.

Well, at least they both have similarly colored logos. Perhaps a name changes is coming? NetTube or YouFlix?

Additionally, since Google TV has been blocked from many broadcast TV streaming sites this gives Google a big chunk of content that they can now offer, perhaps as a value-added service to Google TV users giving them both the set-top box operating system and the premium content delivery all in one.

Finally, if you’ve read all the way down here and thought any of it was true, Kung Pao suckers! It’s April Fool’s Day! Though, I have to admit, it’s not such a bad idea…