It's been 11 years since Microsoft launched its Xbox console, which was refreshed to Xbox 360 in 2005. It seems that the company is on the verge of revitalizing the gaming console with the launch of its successor, which may go by the moniker "Xbox," and not "Xbox 720" as previously rumored.

What's more, per reports, the 'X-Surface' tablet may also accompany the console.

Previously, the next-generation of the gaming console was speculated to be codenamed Durango, more commonly known as Xbox 720.

Referring to the next-generation Xbox, Pocket-lint reported, "In addition, it will be seen as a hub to a number of devices to carry an "X" branding, one of which will be the much-rumoured 7-inch gaming tablet, which Pocket-lint has learnt will be called X-Surface, not Xbox Surface as previously thought."

The report indicates that the X-Surface will not be a Windows 8 or Windows RT device, but a standalone portable gaming system. The X-Surface will be able to access games, music, and video hubs from the new Xbox and will not have any apps of its own.

No technical specifications have been revealed but the X-Surface tablet is expected to have much-improved hardware over the Surface RT tablet. Citing sources close to Microsoft, Pocket-lint claims that the source "witnessed Unreal Engine 3 demos running at a solid 60fps." The X-Surface may possibly have a proprietary 2.4GHz wireless protocol for compatibility with Xbox 360 controllers and for future control devices.

Many rumors of the next-generation Xbox have been circling the gaming arena, and suggest that the gaming console will have a 1.6GHz 8-core CPU, most likely from AMD, and an 800MHz GPU.

Rumors indicate that the next-generation Xbox is already in development and will launch in September this year. Details regarding the price of the console are not yet known.