Companies with Web video businesses keep tinkering with the idea of moving from free to pay services, as ad revenue remains paltry.

Hulu, the free online TV hub, may be coming to Microsoft’s Xbox gaming console soon as a subscription service. Microsoft plans to unveil the deal with Hulu at its E3 conference on June 14, according to tech blog Gear Live.

If it pans out, Hulu will be available to Xbox Live users in much the same way that they are able to access their Netflix subscriptions on the gaming console. A Hulu spokesman didn’t return a call seeking comment.

Hulu, a joint venture of News Corp.’s Fox, Disney’s ABC and GE’s NBC, has been rumored for months to be readying a pay service after coming under pressure from its big media backers.

The startup has been struggling to find a business model that appeases its partners, which initially launched the site to curb piracy but have since grown stingier with their content.

Meanwhile, ABC.com is also considering charging a low monthly fee for unlimited viewing of some ABC programs in exchange for fewer ads and access to older episodes.