This is something that I can’t wait for because well it’ll cut my bill by $10-$15 as I use my Xbox 360 now as a receiver instead of “renting” one and being charged like I am now.  At the end of the week I expect the money saving to begin.  The only issue though is the reported $155 cost it will be to existing customers.  $99 for the Xbox kit plus $55 for installation.  Ouch.

AT&T and Microsoft today announced the Oct. 15 launch of U-verse TV on Xbox 360 for U-verse customers, which lets you enjoy the U-verse TV experience on your existing Xbox 360 device, replacing the need for an extra receiver in your home. AT&T is the first TV provider in the U.S. to offer live TV service through an Xbox 360.

Using your Xbox 360 as a U-verse receiver, you can receive chat and game invitations from friends through Xbox Live while watching live TV and switch seamlessly from game to TV mode without switching video inputs on your TV screen. You will enjoy virtually the same U-verse TV experience and features available today, including the ability to watch live TV, manage and play back DVR recordings and access interactive apps, your program guide, the On Demand library and more.

U-verse TV on Xbox 360 also allows customers to avoid an extra box on their entertainment center and the need to pay a monthly rental fee for an additional receiver.  New customers can order the $99 Xbox kit at 1-800-ATT-2020 when they subscribe to U-verse, and a U-verse technician will load U-verse software on their Xbox 360 during their service installation.  The Xbox kit will include an installation CD, dongle and remote.

If you’re a U-verse subscriber, are you going to utilize this?  It’s also coming to Windows Phone 7 owners in November as well.