A report over at IGN suggests that Microsoft may be preparing to release a brand new Xbox 360 bundle priced at $99. Before you get excited about the prospect of the Xbox 360 now costing just a little more than a new release game you should understand that are a few caveats. This new bundle may very well carry with it limited availability and a monthly subscription fee.

Reportedly the new bundle will be sold exclusively at Microsoft’s retail locations in the continental United States beginning sometime next week. Eagar bargain hunters looking to perhaps purchase a second console should realize that this Xbox 360 +Kinect bundle supposedly requires a two year commitment at $15 per month.

For comparison’s sake you can purchase the 4GB Xbox 360 bundle with Kinect for $299 and subscribe to 2 years of Xbox live for $120 before taxes. The total price of the completed contract works out to $460 compared to  $420. Heck, everyone wants to just give Microsoft $60 for nothing, right?

The slim Xbox 360 was released in the United States, Europe and Canada in the summer of 2010. The Kinect Sensor was released in November of that same year.