In case you were heating up and hoping to see Microsoft reveal their next gaming system at this year's E3 in Los Angeles, it's time to chill out. It's not happening, according to David Dennis, Microsoft Product Manager.

In a statement with one Bloomberg reporter, Dennis reportedly said that the company will not be showing any new Xbox gaming hardware at this year's E3 convention. Dennis went on to say that, for Microsoft ", 2012 is all about Xbox 360…"

Just like Sony's Kaz Hirai did for the PlayStation 4 back during CES, Dennis does for the Xbox 720 (yes, we hate that "name," too). Both companies have now gone on record as saying that they will not unveil new gaming hardware this year at E3. Do not expect any new gaming hardware reveals from either companies until it looks like this generation is in its twilight.

The Xbox 360 is enjoying tremendous success, especially thanks to the relatively recent release of the Kinect. In fact, last year, the Xbox 360 enjoyed the best week of sales in its history. That comes almost six years into the life of the machine, which suggests there's still more time for it to exist well on retail shelves.

As more comes for both the next generation hardware and what each company plans to show or not show during this year's E3, we'll be all over it.

[via Twitter]