In what is cracking up to be a big week in search engine marketing news (thinking Yahoo’s new search technology, Google Health, MSN adCenter), some European bloggers are noticing a new channel for the serving of local targeted Google AdWords (yes, local is HOT); Google Earth AdWords.

Philipp Lessen points to the Radioactive Yak’s screenshots of Google Earth software serving nice little AdWords ads in their Map balloons:

Now, I’d been flying around for a couple of days and not seen a sponsored link before, so (to me at least) this looks like a new addition.

Find out more about Adwords on Google Earth at http://www.searchenginejournal.com/?p=3393.