YouTube TV is a slick full cable television replacement

YouTube prepping paid virtual cable bundle like Sling TV's

According to a CNBC report, the service, called YouTube TV, will include more than 40 channels for $35 each month. YouTube TV includes major sports networks like ESPN and regional sports networks like Fox Sports Networks and Comcast SportsNet, so you can watch your favorite National Basketball Association or MLB teams. Discovery, Viacom, AMC, and A&E are not included in the package.

For a very affordable $35 a month, you can get all four of the biggest broadcast networks (ABC, FOX, NBC and CBS), as well as about 30 cable channels.

YouTube TV is the latest virtual MVPD to hit a increasingly crowded market that includes AT&T's DirecTVNow, Dish's Sling TV and Sony's PlayStation Vue.

The service's announcement comes on the heels of news that people spend a whopping one billion hours watching content on YouTube per day. Those kinds of numbers show exactly why YouTube is entering the market for TV: As more viewers shift their media consumption to Internet streaming options, Google risks having some of that consumption flow to other services.

Still, YouTube TV lacks some notable cable channels - CNN, HBO and Cartoon Network are not on the list featured in YouTube's blog post, for example.

YouTube CEO Susan Wojcicki told Bloomberg that YouTube TV is created to be "great for sports lovers", and that it will include pro and college football, basketball, baseball, and other sports.

Anyone eager to jump on this new way to catch television from your phone can sign up to be notified as soon as the service is available here. As you can see it is missing a good number of networks right now, especially the more popular ones. With YouTube TV, you'll be able to record live TV and never run out of storage. "They want to watch TV on their own terms".