Cablevision announced today a plan that will bring speeds of 101Mb/s downstream and 15Mbps upstream to its 3 million customers. To take advantage of the new service, subscribers will be given the option to upgrade their cable Internet to DOCSIS 3.0 for $99.95 per month. The high-speed Internet access is expected to deliver full-length high-definition movies in less than 10 minutes or upload 750 digital photos or 150 songs in one minute.

To compete with Verizon’s FiOS service, the New York-based ISP intends on doubling the speed of its Wi-Fi wireless Internet service to 3Mbps, which will be free for Cablevision subscribers. As a comparison, the FiOS service runs about $140 per month, while other competing companies such as Comcast and Charter only offer a more costly 50Mbps.

Cablevision reports that they’re coughing up $300 million, at least $70 per user, to offer both DOCSIS 3.0 access and free Wi-Fi. The new service is expected to debut market-wide beginning May 11. Will you be upgrading?