Microsoft has taken to Twitter to confirm that the Xbox Series S is real, and the budget version of its next-gen console will cost $300.

If you’re wondering why this announcement happened in the middle of the night after a U.S. holiday, it’s all because of a leak. Windows Central then followed up with a report detailing the design and price for the Xbox Series S.

Window Central’s report includes some other details that Microsoft hasn’t divulged yet, including a November 10 release date for Xbox Series S and Xbox Series X. The site also claims that the Series X will cost $500.

Microsoft has so far only confirmed the price for the Xbox Series S. This console will not include a disc drive. And while the Series X will support 4K gaming, Microsoft intends the Series S to be more of a 1080p machine. But it will play the same next-gen games as the Series X.

Sony has not revealed the price for the PlayStation 5 yet, which will be available in two versions. One will have a disc drive, while the other will be an all-digital machine.

LIVE NOW: GamesBeat's Driving Game Growth Summit