If you haven’t already seen it during Eric Schmidt’s keynote yesterday, Google has unveiled a project they’ve been working on for Honeycomb tablets called Movie Studio. It’s exactly what it sounds like: a movie editor. And it looked awesome.

They touted features such as sharing via the cloud, but we were impressed by everything they showed. All the works were there: special effects, audio and video timeline editing, HD transcoding, and more – this looked even better than Windows Movie Maker. (Which, honestly, isn’t really too big of a feat.)

We couldn’t grab video of it as cameras were prohibited throughout the keynote, but we did manage to grab some screen captures from their live stream. Google didn’t say whether or not this would be on the first batch of Honeycomb tablets to launch, and they didn’t say much of anything else, either. We’ll be keeping our eyes on this one, though.