Peter Kirn at the always awesome Create Digital Music reports that a reader has Ableton Live running successfully on Apple TV.

Apple TV is a new peripheral that effectively turns your HDTV into a giant iPod, letting you listen to or view iTunes content on your home theater system. Apple TV has also become a hot platform for hackers, who have added features and even managed to get OS X running on it.

“Will you soon be carrying Apple TV’s to a gig?” asks Kirn.

We’re not holding our breath. Getting Live running on an Apple TV is a bit stupidtastic – not a lot of people would want to work on a machine with the Apple TV’s limited I/O, RAM, hard drive or CPU. But as a hack, this could be pretty impressive. We’re looking to seeing what else people can get the Apple TV to do.