By now you may have heard, but if you have not and you’re an Xbox Live Gold Member, well this is something you’ll probably want to hear. Microsoft has announced that as of November 1, 2010 the price of its Xbox Live Gold Membership Fee will increase $10 annually with one and three month subscriptions also going up. Below is a breakdown of the new pricing plan for the different subscription bases

1 Month Subscription……….$9.99
3 Month Subscription……..$24.99
1 Year Subscription………..$59.99

“Since launching Xbox LIVE in 2002 we have continually added more content and entertainment experiences for our members, while keeping the price the same. We’re confident that when the new pricing takes effect, an Xbox LIVE Gold membership will continue to offer the best value in the industry.

However, we do want to thank our loyal members and give you the opportunity to lock in your current price with an additional discount, so now would be a good time to renew your subscription.”

-Microsoft Spokesperson Larry Herb

Well what do you guys think, does this bother you? Was it inevitable? Switching to PSN?