Social networking site, Myspace, announced today that it is to join forces with Skype to interoperate the two IM services.

With 330 million users between them, the move is an effort to boost MySpace’s weak IM service and is the first time Skype has operated with any outside IM service. The site hope that the collaboration with eBay-owned Skype will help them catch up with the likes of MSN and Yahoo IM.

The new Myspace IM with Skype does not require any additional software and will allow users to make free online phonecalls to their MySpace and Skype friends. It will also allow users to pay for phonecalls to landlines and mobile phones and Skype users can also link their Skype accounts to their MySpace profiles.

MySpace IM with Skype also has specific privacy settings to protect younger users. Users with private profiles can only receive phonecalls from an individual already on their friends list. Users with public accounts also have the option of only receiving phonecalls from confirmed friends.

MySpace IM with Skype is expected to roll out sometime in November and will be launched in 20 countries worldwide where MySpace has localised communities. The ability for Skype users to link their Skype accounts to their MySpace profiles will be available globally, except in Japan, China and Taiwan.