I just found the neatest site from a post at Little Literacy Learners. Barnes and Noble has an online story time. The actual pictures of the book are used and the stories are narrated by actors and actresses. You can read a more from the post Online Storytime on the Little Literacy Learners blog.
If you are interested in other sites like this, check out Tumble Books and Storyline Online. Tumble Books is an online storytime that you have to pay for. It is designed for schools and school districts to purchase. Storyline Online is a free site similar to the Barnes and Noble storytime site. Favorite children's books are narrated by celebrities. My favorite is Somebody Loves You Mr. Hatch.