As we told you earlier today, Microsoft revealed today the details of its new game changing, all-in-one home entertainment gaming system the Xbox One. But the biggest announcement, at least for nerds of all stripes and creeds, was that of a new TV series, to be co-produced by 343 Industries and Steven Spielberg, based on the Halo game franchise.

And needler shots rang out in celebration all over the world!

Coming off a successful, live-action web series, Forward Unto Dawn, 343 Industries, which manages the Halo franchise, could really only make one move, and that was to fully produce a series based on one of the most successful game series of all time. It is estimated that in total the games in the Halo universe have grossed almost $3.4 billion since it first broke onto the scene in 2001. A TV series, with Spielberg as the executive producer is just the next logical step in the franchise’s total domination of the industry, especially after rumors of a Halo film have never come to fruition. Although… fingers crossed.

Watch the video below to see the announcement as it was made during Xbox’s reveal.

Be sure to check back with ViralRead for updates on this story including casting announcements and series plans, as the come available. And if you get any tips, feel free to pass them along to us @ViralRead.