In a unique move to allow budding videogame developers to get onto the Xbox 360, Microsoft will be releasing some tools to allow you to develop Xbox 360 games.

Microsoft Corp. on Monday will announce the availability of software tools aimed at encouraging independent and hobbyist video game makers to create titles for its new Xbox 360 console.

The move from Microsoft (Charts), which kicks off its two-day Gamefest video game development conference in Seattle on Monday, comes as the popularity of user-created content on the Internet grows and as the software giant builds a large audience for its Web-connected Xbox Live online service.

Microsoft said its tool kit, called XNA Game Studio Express, will make it easier for enthusiasts to create games to run on Microsoft’s next-generation Xbox 360 console or personal computers running its Windows operating system.

A test version of the tool kit will be out by Aug. 30. The final product will be available this holiday season for an annual subscription of $99 per year for Xbox 360 game development. The software will be free to people making games to run on Windows.

Microsoft said more than 10 universities, including the University of Southern California and Southern Methodist University, will include XNA Game Studio Express and Xbox 360 development in their fall curricula.
From CNN (but I have no clue why in the world they talk about YOUTUBE.com at the bottom of the article).