The next Xbox will arrive in early November, and will cost USD$499, or USD$299 with a $10 monthly subscription to Xbox LIVE, say sources speaking with Windows IT Pro’s Paul Thurrott.

Thurrott’s sources have previously provided him with the correct date for the reveal of the next Xbox, confirmed yesterday for 22nd May AEST.

According to the blogger's sources, the next Xbox will include a Blu-ray drive, and will run on a version of Windows 8.

“The next Xbox must be Internet-connected to use,” continues Thurrott. “This is the source of the ‘always on’/’always online’ rumors and isn’t as Draconian as many seem to believe.”

Finally, Thurrott’s sources claim another model of Xbox 360, codenamed “Stingray”, will also be released. It will be significantly cheaper than current editions.