Blogger Paul Thurrott, who previously leaked the planned May 21 reveal ahead of time, has disclosed alleged new information about the system's launch.
Microsoft will launch the system in early November with two pricing models.
One will be a standalone version for $499 (£323), while the other is a $299 (£193) version that requires the consumer to sign up to a two-year Xbox Live Gold subscription.
The system will be based on the "core" version of Windows 8, allowing similar apps that run on the PC operating system to appear on the console.
Thurrott also confirmed previous reports that the new Xbox would support Blu-ray, and that while it must be online to use, it "isn't as Draconian as many seem to believe".
It was added that a third, cheaper Xbox 360 could also be released this year.
Sentiment: Strong Buy