Now on windows phone 7, you can stream content from your home PC to your phone.
Unlike Android and iPhone, Windows Phone does only support WMV3 for live streaming. That is why the most apps for Windows Phone use an own proprietary server software.
This app VLC Video Player for WP 7 does not need an own server software beside VLC. It can convert the VLC video stream into a format supported by windows phone.
Download the app for your phone from marketplace.
You can also watch the detailed tutorial to configure vlc player HERE.
About VLC:
VLC is a popular video player on computers since it will play almost all type of media files. It is also available for Mac and Linux.
