The Vatican has posted the meditations for this year's Way of the Cross to be celebrated in the Colosseum on Good Friday 2009, written by Thomas Menamparampil, S.D.B., Archbishop of Guwahati (India). I have added a link to the list of Stations of the Cross in the sidebar. The illustrations for each station were provided by Indian artists.
The Way of the Cross will be broadcast on EWTN on Friday evening, at 8:00 p.m. Eastern, 5:00 p.m. Pacific, as a rebroadcast. As far as I can determine, EWTN does not plan to air a live broadcast. To watch live at 12:05 p.m. Pacific, 3:05 p.m. Eastern, or 9:05 p.m. Rome, try Vatican Television Center or KTO TV(French Catholic). KTO will let give you a full screen option online and will likely have video on demand available later.