The video chatting software, Skype, has been updated to version 5.3, adding support for Mac OS X 10.7 (“Lion”).

With Skype 5.3 for Mac OS X, you’ll also be able to send and receive HD quality video when talking to your friends and family. You’ll need to use the Mac’s built-in HD webcam or choose from a variety of webcams from the Skype Shop, such as the Logitech C910, to make video calls in HD quality.

To receive HD video calls on your Mac, the folks at Skype recommend an upload/download speed of 1.5Mbps. Skype is available in a free version, plus a premium version with more features for $4.49 per month.