Update: The show is now over! You'll find a recap of all the key information elsewhere on Pure Xbox:

The big day has arrived! Microsoft is addressing some important business matters as part of the Official Xbox Podcast today, with executives Phil Spencer, Sarah Bond and Matt Booty all sharing their vision for the future of Xbox.

"Please join us for a special edition of the Official Xbox Podcast. Hear from Phil Spencer, Sarah Bond and Matt Booty as they share updates on the Xbox business."

The event begins at 12pm PT / 3pm ET / 8pm GMT, and could last anywhere from 10 minutes to over an hour.

Settle in, say "hello" in the live chat, and let's see what Xbox has in store for us!