Although Microsoft already announced its next-gen Xbox Series X console, the exact release date and price have been a mystery. However, a report from Windows Central (via Engadget) reveals that the company is expected to launch its Xbox Series X on November 10, 2020, and it seems that the price will be $499.

The news comes out as Microsoft confirms the cheaper Xbox Series S, which is a less powerful variant of the X with tweaked-down hardware, no disc drive, and $299 price tag.

According to the report, the software giant is also expected to offer a $35 per month Xbox All Access financing option to get the Xbox Series X, and a $25 per month financing option for the Xbox Series S.

The Xbox Series X includes an 8-core AMD zen 2 processor running at 3.8GHz, AMD RDNA 2 graphics with 12 teraflops and 52 compute units clocked at 1.825GHz, 16GB of GDDR6 RAM, and custom PCIe 4.0 NVME 1TB Solid-State Drive (SSD). This hardware allows 4K graphics at 60fps standard, but the Series X will be capable of up to 8K resolution at 120fps. In addition, the console will also support Ray Tracing which is a new technology that enables more realistic lighting changes dynamically inside the game.

The Xbox Series X and Xbox Series S, both are expected to launch on November 10.