Microsoft announced that Spelunky will finally make its way to Xbox Live Arcade next tuesday, just barely missing the cut for Summer of Arcade honors.

Spelunky for XBLA is the polished console version of a freeware PC game of the same name, a cult classic among indie aficionados. Aside from a visual overhaul, the XBLA version adds two-four player co-op and deathmatch. The new and improved version will cost 1200 Microsoft Points. 

[Via Major Nelson]