MySpace has reached a deal with Google to pay out approximately $900 million in shared revenue for Google to become their exclusive search provider, in a move said by some to block Yahoo! and MSN from getting a piece of the action.

Through the deal, Google search boxes will be added to MySpace, as well as provide keyword targeted ads through AdSense. As far as advertising goes, Google will also get first call on selling any unsold ad space that Fox Interactive has not sold directly.

Terms of the deal include Fox meeting certain milestones in traffic in order for Google to pay out. Google has no doubt that Fox will meet all criteria for payouts. The ads and search boxes are expected to be up and running by the end of the year, and continue until mid 2010.