Under the description of the position, Netflix says it's looking for "a great engineer to help us build Instant Streaming client implementations on Android devices."
There you have it. Watching Netflix's streaming offerings from your Android devices may soon become a reality. In fact, this seems to indicate that it's inevitable, and only a question of when. I don't imagine Netflix will have any shortage of applicants for the position.
This should only further Netflix's advantages over the newly announced Hulu Plus, which offers some of the same content, but certainly not as much as Netflix, and without the whole mailing of DVDs thing. It does have ads though, and costs more.
Also, consider that Google TV will be integrated with Android. This could theoretically turn any Google TV-ready device into a Netflix-ready device.
In other movie-meets-Android news, IMDB launched a new Android app today. More on that here.