Xbox owners will soon have to pay an extra $10 for their annual Xbox Live Gold subscription.

Xbox Live programming director Larry Hryb, known by many video game players as Major Nelson, revealed on his website the price for a 12-month Xbox Live Gold subscription will increase from $50 to $60.

A 3-month subscription will go up from $19.99 to $24.99, while a 1-month plan jumps from $7.99 to $9.99.

Along with the announcement, Microsoft has launched a promotion allowing Xbox owners to renew now for an additional year for $39.99.

Head here for more details.

USA Today