The next generation Xbox will be revealed on May 21st at 10 A.M. PDT, Microsoft has confirmed.
Rumors had already circulated to this effect, but until now there had been no official aknowledgement the company was working on a new console.
The rumors that suggested a late May reveal also reported the next Xbox would run on PC-based architecture similar to that used by Sony's rival PlayStation 4.
Other reports have said the new console will require a constant internet connection, and be able to access T.V. and cable channels.
Those interested in finding out for themselves can watch the console unveiling live at Xbox.com, on Xbox Live, or on the Spike network