Ionut Alex Chitu writes in the Google Operating System blog that for $20 a year, you will be able to get 6 GB that can be used in either Gmail or Picasa.
This is good news if you need the additional space, but what I would like to see is for them to step up and offer IMAP Gmail accounts, even if as a paid premium feature.
12509 signatures to date on the IMAP facility for Gmail petition.
UPDATE: Confirmed via The Official Google Blog: A simple way to get more storage