  Bilayer electron-hole systems, where the electrons and holes are created via
doping and confined to separate layers, undergo excitonic condensation when the
distance between the layers is smaller than typical distance between particles
within a layer. We argue that the excitonic condensate is a novel dipolar
superfluid in which the phase of the condensate couples to the {\it gradient}
of the vector potential. We predict the existence of dipolar supercurrent which
can be tuned by an in-plane magnetic field and detected by independent contacts
to the layers. Thus the dipolar superfluid offers an example of excitonic
condensate in which the {\it composite} nature of its constituent excitons is
manifest in the macroscopic superfluid state. We also discuss various
properties of this superfluid including the role of vortices.
