Microsoft announced today at the Web 2.0 Summit that it would integrate Twitter and Facebook streams into its online search engine, Bing.

So what does this mean to you the average interweb surfer? Well, it’s bringing closer to realization the idea of a “real-time web”. When you search for things now, you will find content that could be days, months, or years old. However, in a real-time web scenario your searches could yield results with up-to-the minute accuracy. Expos with revealing keynotes, product unveilings, and travel information all can benefit from minute-by-minute updates like tweets and Facebook status updates. The Facebook integration is still a work in progress, but twitter results are live as of today.

By the way, did I mention Google also signed the exact same deal with Twitter today? They will be working tweet results into their regular search results over the next few months. They haven’t given any indication that they are working on a deal with Facebook.
 
It is worth nothing that Facebook and Google do not get along very well. Therefore, hanging on to Facebook exclusively might be Microsoft’s ace-in-the-hole by providing results you can’t get anywhere else, inevitably driving up its market share.