Microsoft has made it official today by announcing that the Xbox 360 is shedding its older capacity of 20GB in favour of a 300% increase to 60GB.

Available from the 15th August in UK stores, the new bigger capacity 360 will be available at the same price as before - £199.99.

The extra storage means you have more room to download things you fancy from Xbox Live, whether it be movies or games.

"No one device offers the depth and breadth of entertainment that Xbox 360 can deliver and we know consumers need increasingly more and more space to store the amazing digital entertainment content we provide," said Neil Thompson, senior regional director, Entertainment and Devices Division, Microsoft Ltd.

"Now the Xbox 360 has triple the space to house all your entertainment needs at no extra cost."

Of course, if you need still more space, the 360 Elite is still going to be available with its 120GB hard drive (£259.99), or for those who aren't heavy gamers the Xbox 360 Arcade with just 256MB (£159.99) of storage may be more up your street. Then again, for the extra £40, we know what we'd do...