We’ve reported previously that Microsoft was considering releasing a cheaper Xbox 360 bundle system with a subscription to Xbox Live Gold tied in for good measure, but many folks were wondering if this was official. Today, it is!

Starting at this very moment you can take a special coupon offered through the Microsoft Store to any location and purchase an Xbox 360 Kinect 4 GB bundle for only $99.  There’s a catch, as we reported earlier.  You need to subscribe to Xbox Live Gold for two years at $14.99 a month.  Considering that’s about the price you’d pay for a subscription, it’s not like it’s a bad deal.

A couple of things – this deal is only available through Microsoft Stores and you must print out this coupon.  Also, if you do terminate the deal before your two year subscription is up, you’ll be responsible for early termination fees.

If you don’t have an Xbox 360 yet, this just might be an ideal way to get one. Check it out and shop away!

(Oh, and don’t forget to get yourself a copy of Kinect Sports while you’re at it. Good stuff.)