A new version of the Android Market is beginning to be pushed out to smartphones. The new version is 3.3.11 and it brings a few new features to the market.
The new features include the ability to set the auto update as a default for all apps and the ability to set that option when connected to WiFi only so that downloads don't automatically eat in to your monthly data allowance.
We don't know at the moment which devices and which locations are getting the update, but it's gradually rolling out now to Android smartphones.
Android Police has a download link where you can manually install the new Android Market now but also says you might run in to some problems with the app trying to force close. A simple fix is also available if you see this message on the custom installed version.
The full instructions along with download details can be found over here.