Great news for Xbox users: You’ll soon have yet another video streaming service competing for your dollars. Microsoft (MSFT) Xbox Live programming director Larry “Major Nelson” Hryb announced on his website Tuesday that “Redbox Instant by Verizon (VZ) will be coming to Xbox 360 in the very near future” and that Redbox Instant beta participants will soon receive an access code that will let them use the Redbox app on their Xbox consoles. Hryb also said that the Xbox will be “the exclusive gaming and entertainment console launch partner for Redbox Instant,” so don’t expect to get Redbox on your PlayStation 3 or Wii U in the near future. Verizon plans to launch Redbox Instant in March, when it will initially offer users 7,500 “streaming and transactional movie titles” for $8 a month.