LotusLive iNotes will feature hosted, on-demand e-mail, calendar and contact management. Price per user: $3  per month,  a few bucks cheaper than Google Apps Premier Edition, which has a pricetag of $50 per user per year.

IBM’s pitch: With web-based e-mail, all  employees get real-time e-mail access from any computer or other device with a Web connection. And you get IBM’s reputation for security to boot.

As web-based interface, LotusLive  e-mail accounts are enabled with POP, authenticated SMTP and IMAP capabilities for use with e-mail clients such as Lotus Notes or Microsoft’s Outlook.

For companies looking to save money by moving to Software as a Service (SaaS) and having someone host their e-mail, this new offering will serve as good competition to both Google and Microsoft Exchange.

IBM’s assuring customers of both security and privacy for their e-mail accounts — and they’re putting their name behind the offering.

While nobody expects LotusLive iNotes to be a game changer, the entry of IBM into the hosted e-mail service business promises to keep other forces in the marketplace on their toes.