Thanks to two early reports coming from The Verge and What The Tech it has been revealed that the next Xbox will be revealed at a Microsoft event this May 21.

Paul Thurrott, a tech blogger and author, has revealed via an interview that the next Xbox will be revealed at a small venue event before the big reveal at E3 in June. This smaller event will allow Microsoft to discuss their plans for the next-gen console and their goals for 2013. Also discussed in the report was the recent always on drama, where Microsoft creative director Adam Orth took to Twitter and told people to #dealwithit in regards to an always on Internet connection for the console to work.

Microsoft issued an apology and reminded the world that any information about the next Xbox is strictly confidential and that employees were to make no remarks about the new console, after Orth's comments. Thurrot went on to elaborate that the next console is not going to be cheap. He speculates that the new Xbox will cost $500, and $300 with a subscription.

While many gamers were up in arms about the constant Internet connection, Thurrot thinks that many may have overreacted and that it's still too early to tell what that even means. This Xbox event in late May combined with E3 and Build in June, are all part of Microsoft's strategy of placing Windows as the nerve center of its products and services. What do you think? Is it too soon to storm the castle, torches in hand? Let us know what you think.

[via The Verge,What The Tech]