Press release in Russian (from SU website, not available on English part of SU site):

24 ноября 2008
Новая услуга от Аэрофлот Бонус
НОВАЯ УСЛУГА ПРОГРАММЫ «АЭРОФЛОТ БОНУС»
24 ноября 2008 года, Москва. – ОАО «Аэрофлот – российские авиалинии», член глобального альянса авиаперевозчиков SkyTeam вводит программу повышения класса обслуживания часто летающих пассажиров на рейсах любой авиакомпании-участницы альянса SkyTeam в рамках инициативы Mileage Upgrade.
Теперь клиенты бонусных программ Аэрофлота имеют возможность премиального повышения класса обслуживания за накопленные мили на один уровень от экономического класса на рейсах любой авиакомпании-участницы альянса SkyTeam (кроме а/к Alitalia)

Чтобы воспользоваться данной услугой необходимо:
– приобрести билет по полному экономическому тарифу на перелет, включающий хотя бы один международный участок, любым из 10 перевозчиков альянса (данная программа не распространяется на рейсы по соглашению «код-шеринг»);
– связаться с колл-центром бонусной программы для подтверждения возможности повышения в классе обслуживания;
– после подтверждения агенты по бронированию спишут мили со счета пассажира и выпишут новый электронный билет с подтверждением повышения в классе обслуживания.
Введение новой услуги – первый этап программы Mileage Upgrade альянса SkyTeam. На основании полученных результатов будет осуществлена возможность запроса и подтверждения премиального повышения в классе обслуживания через интернет.
Более подробно ознакомиться с программой по повышению в классе обслуживания можно на сайте «Аэрофлот Бонус» или любой другой программы лояльности альянса SkyTeam.

Summary: Passengers that have enough miles in their Aerolflot Bonus account can now use them to upgrade on other SkyTeam airlines flights (except Alitalia). This is a test program called Mileage Upgrade within Sky Team initiative. Based on the results they are expecting to recieve they will implement this award redemption (upgrade) via Internet in the future.

Here is the announcement from Sky Team webiste directly, apparently its available to all ST airlines frequent flyer programs members, but the ticket has be purchased in full fare coach for it to be elegible for the upgrade. Nonetheless, I think its pretty exciting! I havent seen it being mentioned anywhere before, and the first airline's website I saw it on was, surprisingly, Aeroflot's!

SKYTEAM LAUNCHES MILEAGE UPGRADE PROGRAM
Alliance passengers can now use miles from one program to upgrade on flights operated by another member




November 13, 2008 – SkyTeam, the global airline alliance, today announced the launch of the SkyTeam Mileage Upgrades program. SkyTeam Frequent Flyers on international flight itineraries can now use their miles to upgrade to Business class on most SkyTeam member airlines.

“The ability to earn and redeem miles has always been a key passenger benefit of alliances,” said Leo van Wijk, SkyTeam chairman. “With the launch of SkyTeam Mileage Upgrades, we are responding to passenger requests as we look to continuously expand upon the benefits we offer our customers.”

To take advantage of SkyTeam Mileage Upgrades, passengers must:

Purchase an international, published, full fare Economy class reservation on one of the 10 participating SkyTeam member airlines. The flight must be marketed and operated by the same SkyTeam carrier, as code-share flights are not permitted.
Call the award reservation line of their frequent flyer program at least three days in advance of departure to verify eligibility, check account balance and confirm if upgrade seats are available. At the current time, all requests must be made via telephone. The number of miles necessary for an upgrade varies based on the frequent flyer program to be debited and the itinerary. Passengers should visit their frequent flyer program Web site and consult the individual award charts for approximations.
If the passenger is eligible, has the necessary miles in their account and upgrade seats are available, the award reservation agents will debit their frequent flyer account and reissue the tickets with the upgrade confirmed.
For example, an Air France-KLM Flying Blue member traveling on Delta Air Lines from Paris to Atlanta on a full fare economy class ticket can use 25,000 miles from their Flying Blue account for a one-way upgrade to Business class. Once at the airport, the Flying Blue member can enjoy all of the additional benefits of Business class travel, such as additional luggage allowances, priority services and lounge access.

For full terms and conditions, and details of each alliance members’ participation in the SkyTeam Mileage Upgrade program, passengers should visit their frequent flyer program Web site.

This is the first phase of the SkyTeam Mileage Upgrade program. The alliance will use feedback from and results of phase one to improve future phases of the offer, including expanded criteria for eligible flights, the inclusion of Associate-operated flights and the ability to make and confirm requests online.