Valve just sent me an email announcing that you can now give the gift of Steam coupons to your gaming friends and family:

Giving a gift for any occasion is now as easy as purchasing a game on Steam. Steam gift purchasing lets you send a gift to anyone-a friend, family member, co-worker, or someone on your Steam Friends list. The recipient will receive the gift as an e-card featuring a personal message from you. If the recipient is new to Steam, they'll receive everything they need to get started.

To send a gift, simply select from hundreds of games on Steam and then indicate that the purchase is a gift at checkout. Within minutes, the e-card will be delivered directly to the recipient's inbox. For more information about gift purchases, click here.