The ability to legally copy Blu-ray movies could be just around the corner.

A recent report in Electronista cites Michael Ayers, chairman of the AACS Licensing Authority as saying that an updated version of the the Blu-ray standard will allow for copying. Reports say that the feature, dubbed ‘Managed Copy’ will allow users to make a single full-resolution copy of the film which can then be burned to a DVD or Blu-ray disc.

However, while it may seem like a dream come true for most folks, it’s not exactly fitting for these penny pinching times as new Blu-ray players will be needed to support the feature. We don’t know about you guys but we think the cost of a new player is definitely worth it if it means we’ll have the ability to back up our movie collections before the discs get chewed, scratched or generally maimed by pets or inconsiderate roommates.

Will you be buying a new Blu-ray player when this feature is available? Let us know in the comments below!