By Frank Lucci (staff@latinospost.com) | First Posted: Apr 25, 2013 09:46 AM EDT

Microsoft is finally confirming that the next-gen Xbox, which gamers have heard about through leaked information for some time, does indeed exist, and they also have confirmed that they are showing off the machine in a special press conference on May 21, at 1p.m Eastern Standard Time.

Gamers were clued into this unveiling since yesterday, as the Xbox Live homepage include a big banner ad about the event. Additionally, Major Nelson, AKA Larry Hryb, the director of programming for Xbox Live, announced the news on his blog, and has a timer ticking away the time until the big event. The event is taking place at the Xbox Campus in Redmond Washington. The event will be available on a global live stream, or viewers will be able to check it out on Spike TV, if they have the cable channel. In addition to this one-off event, Major Nelson also revealed that the company has major plans soon afterward at the E3 convention.

"On that day, we'll share our vision for Xbox, and give you a real taste of the future. Then, 19-days later at the Electronic Entertainment Expo (E3) in Los Angeles, we'll continue the conversation and showcase our full lineup of blockbuster games."

This news may not be a surprise to some gamers, as the news of a May 21 press event was confirmed weeks ago. In addition, the hardware for the next-gen Xbox has allegedly been leaked, along with a dev kit for the system giving some of the systems details away. If these leaks are indeed true, then gamers can expect a console that must always have an internet connection, will download games directly to the system's hard drive, and will not allow used games to be played on the system. These rumors has caused a fair amount of controversy about the new Xbox, so hopefully Microsoft can either confirm or deny these rumors at the May 21 event.

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