Credit: Xbox/Microsoft

The next-gen console is officially on the board.

Microsoft’s game console division has been working quickly over the last several days, partially due to factors beyond their own control. Over the weekend, the existence of the Xbox Series S, a paired-down version of the upcoming Xbox Series X, was leaked online, with rumors about its price and specifications promptly beginning circulation. Shortly after that, instead of attempting to maintain secrecy, Microsoft threw the veil after their entire lineup.

Yesterday, Microsoft formally revealed the existence of the Xbox Series S, and announced its price point: an attractive $299. At the same time, it announced that both the Series S and its full-fledged sibling, the Series X, would be launching on November 10 in time for the holiday season. However, fans quickly pointed out a crucial piece of missing information: the cost of the Series X. Once again, Microsoft dispensed with secrecy, and unveiled the price this morning: $499, the same introductory price as its predecessor, the Xbox One.

Both consoles will come bundled with an Xbox Games Pass Ultimate membership, which gives players access to both online gameplay through Xbox Live Gold (which in turn gives access to the free “Games with Gold” program) and the Xbox Games Pass library, a rotating collection of games that can be freely accessed as long as one is subscribed. Microsoft also announced that from the holiday season onward, Xbox Games Pass will also included a subscription to Electronic Arts’ EA Play service at no additional charge.

With the reveal of the price and release date, Twitter users have begun to prod Sony about the price and date for the PlayStation 5, the details of which still remain murky at best. The budget Xbox Series S, which uses the same price point as the Nintendo Switch, could be a potential power player in the new generation, one that Sony may not have a counter prepared for.