In the lead up to the reveal of Project Scorpio–now named Xbox One X–Microsoft referred to it as a premium system. During its E3 press conference today, it demonstrated what it mean, revealing that the console will retail for $500 in the US, confirming a report from earlier today. Internationally, it will go for £449, €499, CA$599, and AU$649.

The upcoming console’s release date is set for November 7, 2017. Aesthetically, the Xbox One X looks a lot like a black Xbox One S, but Microsoft says it will be its smallest console to date. Click here for Xbox One X pre-order information.

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Xbox One X enhancements–including 4K support–are coming for a number of future games. Existing games like Gears of War 4 and Forza Horizon 3 will also be updated to include 4K support on Xbox One X.

Click here for more of our comprehensive E3 coverage. Other major Microsoft press conference news included the reveal of Forza 7 and a look at the improved graphics coming to Minecraft.