If this found image is to be believed, Google is in the midst of testing a SkypeOut-like service with their own Google Talk. If you're not familiar, Google Talk is their IM and PC to PC calling app that's tied into other Google apps like GMail.
Why's this interesting? Well, seeing as Google is Google, they'd no doubt integrate calling into some of their other popular products as well. How about (since they're #1 business is still advertising) making you listen to an ad before you make a free call? Or, if you have to pay, making you pay through Google Checkout in order to get a lower fee? Both interesting, and both possible if Google really is going forward with PC-to-phone calling.
Google Talk Dialpad PC to Phone VOIP to Challenge SkypeOut? [Search Engine Journal]