The previously announced online save game feature for PlayStation 3 games will be included with the v3.60 firmware update coming tomorrow.
Cloud save games will be exclusively available to PlayStation Plus subscribers. Up to 150MB of storage will be available for save files, or up to 1000 files. “Copy-prohibited save data” can even be backed-up, with previously backed-up data being restorable once every 24 hours.
Besides the benefit of avoiding the potential loss of your save games in the case of your PS3 hard drive failing (or being stolen), cloud saves will also allow you to access your saves from any online-connected PS3. Sounds like a pretty nice incentive to subscribe to Plus.