Microsoft officially revealed the new Xbox 360 Companion App during the Nokia World 2011. This free of charge application will be released soon on the Marketplace for all WP7.5 Mango devices and will allow you to interact directly with your Xbox 360.

Available in the coming weeks on the Marketplace, the application will allow you to use your WP7 as a remote, to search information on Bing, to play movies and music and to navigate on your Xbox 360 by using the Wifi.

Apparently, only the last generation of Xbox 360 (aka the “S”) will be compatible as they are the only one with integrated Wifi. Though, it is expected that other models will be able to work properly with a Wifi adaptator sold separately.

No official date has been announced so far but as the Xbox 360 is expected to receive an update on the 15th of November, the 10th aniversary of the hardware, the update might come a bit earlier. You can find below a presentation of the application by Ben, the PC guy from Microsoft.