Microsoft has officially announced Xbox 360 Elite, a third version of the console featuring a 120GB hard drive, a HDMI port, a high-definition cable, and a premium black finish, along with matching wireless controller and Xbox Live headset. It will retail for $479.99 and is expected to be in stores starting April 29.

The 120GB hard drive, as well as other black-colored peripherals and accessories, will be sold separately. The hard drive will go for $180, wireless black controllers for $50, black rechargeable battery for $12, and Play & Charge kit for $20. If you’re looking to get the hard drive, then be sure to check out the restrictions, as well as the content it will come preloaded with. And don’t forget Sony’s reaction to the whole thing.

In related news, Microsoft also announced that Xbox Live Video Marketplace will feature more high-definition content from Paramount Pictures and Warner Bros., along with new content from A&E Network, ADV Films, National Geographic and TotalVid.com.