Right now Xbox LIVE is down as Microsoft gears up to bring us a new Xbox Live Experience. Xbox LIVE will be down for 24 hours , which started at 12:01 AM today. The service will come back up at 11:59 PM PST.

The downtime for Xbox LIVE will affect the My Xbox section as well and the Xbox forums will be read only mode. The bad part about this outage is that according to Major Nelson when Xbox LIVE comes back up there will be no new features available.

This outage is to get things ready for the new Xbox experience that will be available this fall. I hope that you didn’t have a three day weekend with big online gaming plans for today.

Via Major Nelson. Update: Xbox Live Update takes longer than expected (as usual...). Update: Xbox Live is back online and you should be able to connect as usual.