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The rumored $99 Xbox 360 with two-year $15 a month contract is official. It includes a Kinect, Xbox Live Gold service and a two-year warranty. The offer is now available on the Microsoft Store site.

The math works out to roughly $460 for the bundle over the next two years. Currently the 4GB Xbox 360 Kinect bundle has a suggested retail price of $299 (although it can be found for less), with Xbox Live Gold subscriptions costing about $50 a year, for a grand upfront total of $399 (or less) if you bought today.

This article was originally published on Joystiq.

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