Here's our current look.
I started doing some research on what we could do to cover it. I am generally looking for something with doors to cover the TV but I may explore the option of just framing out the TV. All of this may involve recessing the TV under a new header in the wall which I am sure Jim will be SOOOOO happy about (haha).
Here are a few ideas that I found surfing around online.
This one is a little more rustic or "Old World" than I typically like but I think the room is interesting.
image via Designer Kitchen & Bath
Getting closer... This is more along the lines for what I had in mind for our set-up.
And I really like this one because of the classic styling and the pretty doors (and of course the yellow walls!).
via Washington Post
I am actually trying to come up with a "best of both worlds" solution where I get a picture over the fireplace but also the TV.