Rumoured to be called the Xbox 720 and go on sale in time for Christmas, the console will battle Sony's PlayStation 4, and to a lesser extent Nintendo's WiiU, for prime living room real estate.
This week Microsoft sent out a teaser email to media and its users hyping a May 21st launch event, to be broadcast online on Xbox.com and on Xbox Live and on Spike TV in the U.S. and Canada.
And 19 later Microsoft plans to reveal more details about its games at the E3 video game expo in Los Angeles, with the new console expected to include an updated version of Kinect, and controversial always-online functionality.
"On that day, we'll be holding a special press event on the Xbox campus and we invite you to join us via the live global stream that will be available on Xbox.com, Xbox LIVE and broadcast on Spike TV if you are in the US or Canada.
"On that day, we'll share our vision for Xbox, and give you a real taste of the future.
"Then, 19-days later at the Electronic Entertainment Expo (E3) in Los Angeles, we'll continue the conversation and showcase our full lineup of blockbuster games," he said.
Less than a month to go then until the "future of gaming" is finally unveiled, at least if you're a Microsoft fan.