Gizmo Cafe are reporting that a Best Buy employee from a Canadian store contacted them to confirm that the Black Xbox 360 would indeed be released in May this year. According to the site:

"...the report we’re getting on the confirmed shipping of the new 360 to retailers is straight from within a Canadian Best Buy. The excited source told us that they’d be receiving the shady rendition in about four months’ time."

It is expected that the new version will include a 120 GB hard drive, HDMI, the new Benq DVD drive (which runs quieter) and may even use a new 65nm chip which would run cooler as well. IPTV and various other features are expected to launch at the same time.

Best Buy are even running ads containing a black Xbox 360, as seen above.