Xbox 720
Leaked documents reveal next Xbox
Leaked planning documents from August 2010 indicate Microsoft is - or was - intending to launch a successor to the Xbox 360 by the end of 2013. The new console, referred to in the documents as "Xbox 720" or its codename "Yukon", would be six times more powerful than Xbox 360, with true 1080p output, full 3D support and a Blu-ray drive. Ref. Source 9
Even if they do a double upgrade I still don't get why anyone would put money out for it when they can invest in a PC upgrade and get more out of it.