Update: This news was confirmed at today's Xbox press conference. The newly-named Xbox One X will be $499. It will be out November 7th.
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As we run up to Microsoft's E3 press conference, it appears that we now have an official price for Microsoft's Xbox Scorpio.
Well-connected Game Awards host Geoff Keighley tweeted this morning that Microsoft's new console will be $499.
I can now say with confidence Project Scorpio is $499. Unless something changes today, that is what will be announced.— Geoff Keighley (@geoffkeighley) June 11, 2017
That makes it $100 more than its natural competitor, the PlayStation 4 Pro, which was released last year. But in return, buyers will be getting a more powerful machine that is being billed as a "true" 4K console.
Microsoft formally unveiled the Xbox Scorpio back in early April. We spoke with Digital Foundry's Richard Leadbetter about it, and he said that it "took him by surprise."
"The funny thing is that Microsoft knew exactly what my expectations were because I posted them in response to their E3 announce video last year. So with the GPU clock speeds in particular, they have delivered much, much higher frequencies than I expected - it took me by surprise and I think they got a kick off my reaction," Leadbetter told us.
We'll see if Scorpio lives up to expectations when it's formally revealed later today. Keep an eye on USgamer for all of the coverage from the Microsoft presser, and check out everything we know about Scorpio so far.