Microsoft Security Essentials provides real-time protection for your home PC that guards against viruses, spyware, and other malicious software.

Microsoft Security Essentials is a free* download from Microsoft that is simple to install, easy to use, and always kept up to date so you can be assured your PC is protected by the latest technology. It’s easy to tell if your PC is secure — when you’re green, you’re good. It’s that simple.

Microsoft Security Essentials runs quietly and efficiently in the background so that you are free to use your Windows-based PC the way you want—without interruptions or long computer wait times.

Source: Microsoft Security Essentials Home
Download: Windows XP | Windows Vista/Windows 7 32-bit | 64-bit

Based on the inital testing of this app -- Its approved -- works well on Windows 7.