The rumor circulating around the internet these days is that the Xbox 360 will experience a price cut sometime soon. We've just found more evidence to support this rumor, and it comes in the form of a GameStop employee's leaked pictures.

The above are cellphone pictures taken by a GameStop employee and detail the internal announcement and shelf art for the upcoming price drop, which are supposed to happen on July 13, the day before Microsoft's E3 announcement.

While it does seem that this price drop is happening on Sunday, it also means that the price drop probably won't be the big announcement Microsoft has planned for E3. That being said, you'd best keep checking QJ for updates on 360 price drops and Microsoft announcements.

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*Update* We've gotten more word from GameStop employee Kaizer_911 saying that the price drop is indeed real. Apparently, the price change will take effect this Sunday at all GameStop stores, although Microsoft has reportedly sent a directive urging GameStop to start posting the price drop announcement only on the same day.

We're still waiting on news about a price drop for the Elite and Arcade SKUs as right now only the Pro SKU is listed as having a price drop (from US$ 349 to US$ 299). The price of Microsoft-refurbished Xbox 360s will also reportedly be slashed from US$ 299 to US$ 279.

Thanks to Kaizer_911 for the tip!