No price drop this year on the Xbox 360. Looks like the Wii and PS3 will not make Microsoft drop the price of the Xbox 360…well unless the Wii sells for $149.99 and therefore make the other two console makers rethink their pricing. Word comes straight from John Porcaro Microsoft Games Global Marketing team on his blog.

As you’re all aware, there have been rumors of a price drop for the Xbox 360 coming along later this year. The official word from folks in the know is that there are currently no plans for a price drop this fall.

If you’ve been holding off picking one up because you think they’ll be cheaper in the future, or they’ve been hard to find, or because you’re too busy catching up on past episodes of Lost, wait no longer!