Stream HD or Blu-ray from Mac to PS3

Is it possible to stream Blu-ray or just HD video in general to the PS3? From my understanding you would first have to convert the Blu-ray or HD video to a PS3 supported format then just stream.

Could someone explain how this could be done.

Thanks in advance.

Yes, though it wont read .MKV files (which almost all HD video files are) but you can easily convert them to .AVI which works perfect.

Yes it does do .MKV files

yep, its a pretty cool feature.