Microsoft has posted advertisments on LinkedIn for 3 jobs which look like the inital steps in developing a next-gen console.  There are 3 jobs listed: a “hardware verification engineer“, a “VLSI performance architect“, and a “VLSI grachics architect“.

Unfortunatly the fact that these jobs are being posted NOW, more than likely means that its still in the initial concept stage. This would mean we are unlikely to see anything regarding features, design, or capabilities anytime this year…next year if we are very lucky and on our best behaviour. However it is good to see that it is in the works, that great things are being done in Redmond, and that a shiny new Xbox (if it’s called an Xbox) will be gracing our homes within the next few years.

Source: LinkedIn via Joystiq