Update 3: Electronic Arts' director of corporate communications Jeff Brown said in a statement to IGN, "This story is a total fabrication – 100 percent not true."

Update 2: A trusted development source tells IGN, "To the best of my knowledge no one here knows what [the new Xbox] will be. Only that it will probably drop in 2013."

Update 1: An unnamed source tells Eurogamer an E3 2011 reveal for Microsoft's next Xbox is "highly unlikely," putting Develop's E3 rumor to rest for now.

Original Story: Citing an unnamed source, UK-based video game industry magazine Develop is reporting that Microsoft has provided Electronic Arts with development hardware that will become the next Xbox as early as 2012.

According to the report, the hardware is housed in a PC shell, a common practice for early console development kits. Develop's source, described as a "senior, trusted, well-placed" person who works at neither EA nor Microsoft, told the magazine an E3 2011 reveal is likely.

We've reached out to Microsoft and EA for comment.

game informer has an article here http://www.gameinformer.com/b/news/archive/2011/05/06/report-publishers-already-working-on-new-xbox-hardware.aspx