A Virgin iPod killer?

Is Virgin planning to take on the iPod? We've already mentioned their new silver dollar-sized 128MB Wearable MP3 Player (pictured at right) before, but buried towards the bottom of Mike Langberg's story for the San Jose Mercury News about how more and more brand name companies are having their electronics built by obscure Taiwainese manufacturers (also known as ODMs, or Original Design Manufacturers) and it lets anyone get into the electronics game for cheap now, is the news that Virgin is planning on coming out with a hard drive MP3 player that'll go head-to-head with the iPod (not that that isn't said everytime someone comes out with a hard drive MP3 player). Should be out this fall, too.