Microsoft sentfor an Xbox event on Wednesday. The tech giant is widely expected to announce its next-generation video game console on May 21.
The new Xbox may cost either $499 or $299 with a 2-year subscription to Xbox Live Gold, which is $10 per month, GameSpot reports, citing blogger Paul Thurrott.
Thurrott writes on his blog that the next Xbox will include a Blu-ray player, require constant connection to the Internet and will launch with an accompanying lower-priced model.
Microsoft's media event will be held on May 21, in Redmond, Wash.