Project Scorpio reportedly set to cost $499

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Forza is a consistent presence at Microsoft's E3 press conferences every year, and if a recent leak is any indication, that will be no different at today's event.

Today, Keighley tweeted that the high-powered Project Scorpio console will be priced at $500.

Today marked the announcement at their E3 Press Conference that Xbox Backwards Compatibility will expand to the original Xbox, with a confirmed title being Crimson Skies - the dogfighting simulator that became a cult hit on the original console. But if you're in the market to purchase the current console, the software giant has some good news for you, too: Xbox One S is now on sale for $50 off.

That's some bold and odd intel coming from Keighley, who's known for The Game Awards. The console, touted to play games at 4K and 60fps had its specifications made public earlier in the year.

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Microsoft's E3 presentation begins at 2pm PDT on June 11 (2:30am IST on June 12).

An Xbox Scorpio price and release date is in the offing. Xbox boss Phil Spencer announced the conference will last longer than their normal 90 minutes, so get your snacks and beverages ready now. It seems like a slippery slope to go that way as Xbox One had a rocky launch and left a bad taste in some people's mouths.

For months people have been speculating the price of Microsoft's most powerful console, Project Scorpio.

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