According to a report from the New York Times, CBS and its partner Loopt are ready to experiment a new type of advertising: location-based ads.

Loopt, a social mapping service developed by a Palo Alto-based startup, uses GPS capabilities and allows users to share their location and status messages, send proximity-based messages and view geo-tagged photos and content on-the-go. The location of users is updated every 15 minutes.

Based the users’ location, CBS’ mobile sites, CBS Sports Mobile and CBS Mobile News, will display ads that promotes the businesses in the neighborhood, even one within a block or two.

For the moment, the new service will is available on the cell phones with GPS capabilities and within Sprint Nextel and Boost Mobile networks. The two companies are the only carriers that have deals with Loopt.

The two sites where the ads will appear had five million unique visitors in the fourth quarter of last year, CBS said according to the New York Times.

Loopt is an opt-in service, so the users location couldn’t be tracked without their permission.