But it is now possible thanks to some amazing work by Team Twiizers
You Will Need:
A Wii (Duh!)
A Sd Card
A Way For You Wii To run Homebrew
If your wii is not ready to run homebrew yet i recomend this instructable by btop
Disclaimer at Last step, Please Read before attemping this instuctable,
Please also bear in Mind this is my first instuctable (:
Step 1: Downloading The Files
You will need to download 2 sets of files
"libdi" and "mplayer", both can be found here :
If you have a modchip you will need the other file on that page, "pactchmii_core"
Step 2: Installing
The Run this file through the homebrew channel.
If your console has a mod chip, click "patchmii install" if not proceed with the normal install.
Step 3: The Dvd Player
Step 4: Running The Software
Run this and then you are ready to play your dvd's
In actual fact, mplayer can do more than play dvd's, it can also play files off the sd card, although this in quite buggy at the minute due to the fact that most of the effort was put into making it read dvds.