Note the SD Card menu near the bottom

It's the news all Virtual Console fans have been waiting for - you can now run all your downloaded VC games directly from an SD card instead of clogging up your Wii's limited internal memory!

As the library of downloadable WiiWare and Virtual Console™ games continues to grow, Wii owners have asked Nintendo to provide easy, expanded storage space. Starting today, Wii owners will be able to save downloaded WiiWare, Virtual Console video games, and Channels directly to High Capacity SD cards, in addition to SD memory cards. To play games that have been saved to SD cards, consumers will be able to select and launch them from an SD Menu icon on the Wii Menu. (Note that when launching games or channels from an SD card, an equivalent amount of internal Wii memory is required. To clear space from the internal memory, users can transfer games or channels from the Wii Menu to the SD card). This feature is included in the latest version of the Wii System Menu Update, which owners will receive immediately after performing a system update today.

If you switch your Wii on and check out the new system update, you should find a rather intriguing new button available on the Channels screen. Clicking it takes you to the SD card menu, which is laid out just like your regular Channels menu except it lists everything you can play directly from your SD card.

That's right, no longer do you have to copy games to and from your internal memory and the SD card: you can simply boot them directly from the card itself! The system update also brings with it support for SDHC cards of up to 32GB, meaning you can now store 64 times more Virtual Console data than before this update, with a maximum of 240 games per card, which is not too shabby whichever way you look at it.

Nintendo also announced the addition of the generic "Arcade" system to the Virtual Console store, allowing for even more classics to come to the service.

Read more over at Virtual Console Reviews.