Search engines Google and Bing to start indexing status updates from social networking sites.

This year’s Web 2.0 Summit featured some big social media news from search giant Google and its up and coming rival, Bing.

First at the Summit, Microsoft announced that Bing has formed deals with both Facebook and Twitter to index status updates and serve them for relevant searches. Additionally, a beta version of Bing’s Twitter search page was released as a way for searchers to better find tweets.

Not to be outdone, Google announced its own deal with Twitter during the Summit to index tweets on the Google search engine. These changes are expected to be made active in the next few months. They also announced Google Social Search, a real-time search indexing page that will allow users to search for content created by people in their social network.

At this time Google has not formed a deal to index Facebook status updates. However, since only public updates will be indexed by Bing (the majority of status updates are private), this is not expected to be a huge problem for Google.