We all knew it was coming, but having a little bit of official confirmation is a good way to clear up the speculation about the next Xbox.
In a recent interview with The Verge, Brian Hall, the General Manager of Windows Live, disclosed that a next-gen Xbox is indeed in development, and that its release will be "in time" for a spate of new Microsoft products, including the Windows Phone and the Windows 8 operating system.
“We’ve had Hotmail and operated Hotmail for about sixteen years, we obviously have Exchange, and Outlook, that people use at work. We just decided it was time to do something new and bring the best from each of those and put them together and release it right in time for the new wave of products that we could have coming out with Windows 8 with the new version of Office with the New Windows phone and the new Xbox.”
It's not much to go on—as he failed to shed any light on what specs the new Xbox will contain or what games it'll run, but it's good to know that Microsoft isn't denying its existence.