Throughout the year so far, two big questions on everyone's mind were how much the next-gen consoles will cost and when will they come out? Both Microsoft and Sony have been silent on the topic, with fans forced to rely on only rumors and supposed leaks. At long last, though, Microsoft at least has officially answered these two questions regarding the Xbox Series X.

The Xbox Series X will release on November 10th and will cost $499. This news follows yesterday's announcement for the Xbox Series S, a less powerful but more affordable version of the new console. That information was initially leaked (the Series S even being practically confirmed already thanks to numerous leaks), with Microsoft officially confirming it itself afterwards.

RELATED: The 10 Best Xbox Series S and Xbox Series X Memes

Those desperate to get their hands on either one of these consoles at launch will be able to pre-order them from September 22nd.

While that $499 price-tag was rumored and expected, it's still good to finally see it confirmed. And though it may be rather expensive for some, the fact that the Series S is releasing on the exact same day means those people have a good alternative. Its pricing alone has already made the Xbox Series S popular, though not everyone's thrilled with how it looks.

The Series S is less powerful than the Series X, but it's still fully capable of playing next-gen games, with the only key differences being that it doesn't play physical games (it's purely a digital console) and it doesn't support 4K visuals.

It releasing in November is hardly surprising either and was a very common theory, especially with numerous games confirmed for the next-gen consoles having November release dates, such as Assassin's Creed Valhalla, Cyberpunk 2077, and Call of Duty: Black Ops Cold War.

Assassin's Creed Valhalla to feature nudity

With this announcement, all eyes are now on Sony. Both the new Xbox and the PS5 are going to be competing over which console is going to end up under everyone's Christmas trees and Microsoft has the edge thanks to a confirmed price, release date, and numerous other features it's been talking about all year.

It's believed that some kind of PS5 announcement will be taking place today, which would make a lot of sense, what with the Series S details coming out yesterday. The PS5 is also suspected of releasing in November as well, so Sony needs to make these important details known sooner rather than later.

Even if Sony didn't have any plans to reveal the PS5's price or release date today, it might be reconsidering so as not to let Microsoft get too much of a head start and possibly undercut it by offering the PS5 at a slightly cheaper price, though that is probably unlikely to happen.

The Xbox Series X will release on November 10th.

MORE: Microsoft Employee Frustrated By Xbox Series S Leak