Ind vs. SL 2009 series will be a revenge series for Sri Lanka which lost to India in 2008. Nimbus bought all the broadcasting rights including online rights. Officially the word is that both cricketnirvana.com and Willow.TV acquired the rights to live stream these matches.
Willow.TV for US $29.95
To watch India vs Sri Lanka 2009 live streaming from willow.tv website you will need to have a broadband connection, which can be either a DSL or High-Speed Cable Internet connection. Willow.TV warns that the streaming may not work with slow dial up connections.
The rates for this streaming is US $29.95. Here is the event page of willow.tv.
Cricketnirvana.com is advertising that it will broadcast for free from 1000 to 1030 hrs. The series subscription rates have yet to be posted.
Update : The pricing list of cricketnirvana.com is posted here. 1500 RS/- for all Ind vs SL 2009 package
India – Sri Lanka Series 2009 – Cricket Nirvana via kwout
Sopcast, TVUPlayer, UStream.TV
Peer2peer options are another way to watch these matches live online.