Though the CW network cancelled The Beautiful Life after just two airings, the series may not be gone for good. The three unaired installments are being released online and, if things go well, new episodes could be produced.

The Beautiful Life follows the turbulent lives of of models in the volatile world of high fashion. The series stars Mischa Barton, Corbin Bleu, Benjamin Hollingsworth, Nico Tortorella, Ashley Madekwe, Elle Macpherson, Sara Paxton, Jaime Murray, Ed Quinn, Gal Gadot, and Billy Magnussen.

Produced by Ashton Kutcher’s Katalyst production company, Beautiful Life debuted to poor ratings (even by CW standards) back on September 16th. The second week’s numbers dropped significantly and the show was pulled from the schedule. Production was reportedly shut down in the middle of the seventh episode.

There were recent rumors that the unaired episodes would resurface next summer on CW but they turned out to be unsubstantiated.

In a live video feed on Ustream last night, Kutcher and his staff revealed that episodes of Beautiful Life would be made available on YouTube, starting today.

Do you think new episodes of TBL will be made? Yes! I think so. Maybe. I'm not sure. No! Are you kidding? View Results  Loading ...

In a statement, Kutcher said, “When The Beautiful Life concluded on broadcast television, we were deluged by fans imploring us to bring back TBL. Working with innovative companies like HP and YouTube, we are thrilled to be ending this year by releasing the remaining episodes of The Beautiful Life and taking part in a unique marketing program that could only occur online.”

The first three episodes of the series are currently available and the next two are scheduled to be released on Monday, December 21st. All five installments are being made available without commercials, thanks to a sponsorship deal with Hewlett-Packard.

It was understood that a sixth episode of Beautiful Life had been shot but, based on the current release plans, it seems likely that it was never assembled or completed.

In addition to the episodes, the TBL YouTube channel also features new messages from members of the show’s cast and crew. They encourage people to watch the show and talk about the making “beautiful changes” in 2010, a tie-in to HP’s ad campaign.

Kutcher believes that the show’s high production values will entice people to watch longer-than-usual YouTube fare. His hope is that, if the episodes of Beautiful Life can attract a significant audience, he’ll be able to attract enough sponsor interest to produce new episodes solely for the web.

What do you think? Are you glad that The Beautiful Life episodes are being made available? Do you think there will be enough interest to produce more?

Image courtesy Katalyst.