Site Recovery Manager (SRM) get’s new features with version 5. One of the most exciting is hypervisor based replication. This removes the requirements of having a storage array do the replication for SRM. This also provides greater storage compatibility and simplification to the deployment of SRM. Replication is done per VM instead of the storage lun allowing you to get more granular without needing to move the VM disk files.
For more information check out this post for more information and a couple videos.