Speaking with Gamespot, Penello was asked if the Xbox One’s cloud features could allow Microsoft to follow Sony and Gaikai’s lead, with a view to offering streamed games.
He replied, “Yeah, absolutely. That’s one of the things that makes [the cloud] at the same time both totally interesting and hard to describe to people. Because what the cloud can do is sort of hard to pin. When you say to the customer, we want the box to be connected, we want developers to know that the cloud is there. We’re really not trying to make up some phony thing.
“But there are so many things that the servers can do. Using our Azure cloud servers, sometimes it’s things like voice processing. It could be more complicated things like rendering full games like a Gaikai and delivering it to the box. We just have to figure out how, over time, how much does that cost to deliver, how good is the experience.”
Gaikai streaming is a pretty attraction for PS4 users, and I wouldn't be shocked if Microsoft offered some sort of streaming service for X1 players as well.