Radar on a tiny silicon chip

All the basic building blocks of the radar system fully integrated on one chip, including power generation, signal processing, and dozens of other functions? This would save a lot of precious space on ships that require a radar, and it has some other advantages as well. Update: for more information have a look at the Slashdot discussion on this topic.
“Now a team of electrical engineers at the California Institute of Technology has shrunk the functions of a radar system into one tiny, intricately designed silicon chip and eight minuscule antennas.
“Using these extremely high frequencies, you can first capture location, sending out pulses and scanning the area like a bat,” said Volkan Ozguz, chief scientist at Irvine Sensors in Costa Mesa, Calif. Irvine Sensors makes miniature electronic systems, including sensors. “Then, using the same chipset, you can start communicating at high frequency,” exchanging information without switching to different equipment, he said.
“It should cost no more than a few dollars,” he said.”