It looks clear that there will be no new Xbox this year. Microsoft has also stated it will not have anything to talk about or show at E3 and it is now speculated that the next Xbox which is codenamed TEN may arrive sometime in 2013.
After being unveiled on MTV in 2005, the original Xbox 360 has grown to include additional hardware capabilities (such as integrated WiFi, HDMI and the inclusion of the new Kinect Sensor). Microsoft also went through an embarrassing (and costly) exercise to resolve the so-called "RROD" (Red Ring of Death) hardware failure to produce the current hardware version known as the Xbox 360 S (which has a new outer casing and more energy efficient internals). It's this version that Kinect debuted with.