According to MS Nerd, Microsoft will unveil a new ARM-based model called Xbox Lite for a late 2013 release at E3 this year, not its widely-rumoured next-gen machine.
The insider (via TechRadar) indicated the hardware would get a similar pricetag as Apple TV, which is about £100/$100, adding it would "Arcade-style games & all the current & future media apps with Kinect (with near-mode)".
Following that would be the next-gen Xbox, according to the insider.
"Details about it are very hazy, except that, like the 360, it will do games for core-audiences & the same media apps as the other device, also with Kinect."
And in 2015, the next-generation of Kinect will come onto the market, with MS Nerd saying it would likely include "a better depth camera, processor & inter-connect."