Microsoft will launch the next Xbox in early November, according to a report.

Technogoly blogger Paul Thurrott, who previously revealed the next Xbox would be unveiled on May 21st before Microsoft’s confirmation, said that computing giant would release two models of the console, a standalone version for $499 and a $299 version that requires a two-year Xbox Live GOLD subscription.

It is not clear however whether the next-gen Xbox will launch in November worldwide, or just in certain regions.

He also confirmed that the next Xbox would require an internet connection to use, but added the always-on feature ‘isn’t as Draconian as many seem to believe’.

Thurrott stated the next Xbox would not be backwards-compatible with the Xbox 360, but would include a Blu-ray optical drive.

As well as revealing the next Xbox on May 21st, he said that Microsoft would disclose the full launch line-up of games on the eve of the E3 tradeshow in June.

The next Xbox is said to be based on the core version of Windows 8, which could suggest cross-platform capability and a unified Windows app store for games.

A new Xbox developer platform may also be announced at the Build conference in San Francisco in June.Well, guess my time as a gamer might be winding down.