Xbox Live prices going up

Microsoft sent out emails and notice to all their Xbox Live user that starting on November of 2010, the subscription price for all Gold level Xbox Live subscription will be going up.  A one year subscription will increase from $50 to $60 a year.

A 3-month subscription will go up from $19.99 to $24.99, while a 1-month plan jumps from $7.99 to $9.99.

Along with the announcement, Microsoft has launched a promotion allowing Xbox owners to renew now for an additional year for $39.99