According to documents acquired by the paper the new VR gear may be related to Microsoft's augmented reality patent dubbed “Fortaleza” filed back in 2012. The gear is a wifi connected device with motion and voice capture, that works like an out-of-game heads up display.
While the paper is mute on just when gamers might get a glimpse at this new virtual reality gear. With the Oculus Rift set to drop later this year (possibly) and Sony working on its own set of virtual reality gear it seems unlikely Microsoft would not have its on the ball. Stay tuned for more details.