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Facebook announced the addition of Skype video-chatting services to the ever popular social networking site.

Facebook at present is the biggest social networking site in the world, having over 500 million active users. Skype had 663 million registered users as of 2010– with the two internet powerhouses joining together, the possibilities are endless.

The agreement, announced by Facebook Chief Executive Mark Zuckerberg at the company’s Palo Alto, Calif. headquarters on Wednesday, deepens its cooperation with Microsoft Corp, which is in the process of acquiring Skype for $8.5 billion

Zuckerberg said Facebook now has 750 million users. The new service, rolling out immediately, could be a huge boost for Skype, which currently has about 145 million regular users.