Inside a giant tent on Microsoft’s Redmond, Washington campus, the future of Xbox is about to be unveiled. It’s a huge day for the company and the gaming industry overall, as this is new product will look to replace the one that debuted in 2005 and has sold quite well ever since. The Xbox 360 has been the #1 selling console in the U.S. for a whopping 28 consecutive months, but with a strong challenge from the PlayStation 4 this holiday season (and a lesser threat from the already released Wii U), the next Xbox will need to promise more than just slightly better graphics and a new way to watch Netflix. Will it require an always-on internet connection? Will the hardware be on display? How about a price? We’re just an hour away from potentially getting the answers to these questions and more. Spike TV is covering the 10am PST/1pm EST presentation live, or you can watch it online at Xbox.com or on your 360 console itself.