One of the most exciting (and least surprising) announcements at E3 2016 was that of the Xbox One S. After months of speculation, Microsoft finally unveiled a sleeker, slimmer model of its latest console, but the company wasn’t ready to share an exact release date quite yet. That all changed on Monday, when we finally learned when we’d be able to get our hands on the Xbox One S.

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In a blog post, Microsoft’s Matt Lapsen revealed that the 2TB Xbox One launch edition would hit store shelves and on August 2nd. Preorders are already underway, and anyone who preorders in time is expected to receive their console on the 2nd. Those who opt not to preorder might have some difficulty finding an Xbox One S, as Microsoft says demand is high and quantities will be limited.

We’ve discussed the improvements of the console in the past, but some of the highlights include HDR support for Xbox One games, the ability to play Blu-rays and stream video in 4K Ultra HD and a built-in power supply.

The Xbox One S also comes bundled with the new Bluetooth-enabled Xbox Wireless Controller with textured grip, which will also be sold separately for $59.99 on August 2nd alongside the new console.

The Xbox One S 2TB launch edition will retail for $399 when it launches on August 2nd. Microsoft also plans to release a 1TB version for $349 and a 500GB version for $299, but availability has not yet been determined.

Watch a video of the Xbox One S in action below:

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