UPDATE: Check out the new Xbox One specs & photos here

At 1pm ET (10am PT) Microsoft will be revealing its unofficially-named Xbox 720 from its headquarters in Redmond, WA. The Xbox 720 will be the first Xbox version upgrade since the Xbox 360 was released back in 2005. So to account for the gamers and techies out there unable to attend, we’ve included a live stream of the reveal event to watch Microsoft debut its next-generation console.

Microsoft has kept a stranglehold on any leaked specs and photos which tend to surface in the preceding days, sometimes hours, leading up to the event. But that doesn’t stop the Xbox die-hards from speculating on what’s likely to make an appearance.

Live Stream Xbox Next-Generation Console Reveal Event Below:

Most tend to agree that an upgraded version of Kinect will accompany the next-gen console. Kinect 2.0 is alleged to be outfitted with new peripheral cameras that allow for facial recognition and eye-tracking of up to four players at once. Also expected is some kind of share button that will let users record in-game video footage and snapshots that they can share and compare on their favorite social media platforms.

Better visual recognition usually goes hand-in-hand with better audio recognition so it’s just as likely that Microsoft’s console will include some kind of voice activation/recognition component that will increase the convenience and user experience of hands-free gaming. Sony has already unveiled its DualShock controllers that offer similar hands-free aspects and definitely include a share feature.

The hardware rumors point to an impressive CPU and GPU that could seamlessly integrate gaming and video streaming. The Xbox 720 will possibly run on an 1.6GHz octa-core X86 processor with custom GPU, feature a 500GB HD Blue-Ray drive, offer 8GB of DDR3 memory and a large external HDD for additional storage.

It’s also been suggested that Microsoft may include a second multimedia GPU to support video-streaming functionality, possibly to bolster its connections already solidified with Netflix, Amazon Prime Instant Video, and Hulu. Despite all of the confidentiality surrounding specs and photos, Microsoft has made no secret of the fact that it wants to develop an Xbox that will moonlight as an all-in-one entertainment hub. All of the rumors indicate the Xbox 720 may be the answer to Microsoft’s schemes.

If the gossip is all accurate, or even close to it, it looks like Xbox is primed for another all-out gaming war with the PlayStation 4 which is supposed to debut later this year. Sony has already announced its flagsship console and given tastes of some of its hardware, so it’ll be interesting to see if Microsoft volleys with something even better.

Be sure to let us know what you’re hoping for and expecting from today’s reveal event.