If cost was the very reason stopping you from getting a next-gen console was price, you may have just lost your excuse.

This week, Sony is announcing that its PlayStation 4 is tumbling in price, with the 500GB PS4 losing a good $70 and bringing the next-gen console and Blu-ray player to a price point under $500.

From this week, expect your local electronics retailer to list the 500GB PlayStation 4 for $479.95 instead of the $549.95 recommended retail price the console previously had.

“With this year’s biggest blockbusters and next year’s best exclusives such as Uncharted 4: A Thief’s End set to thrill players, there has never been a better time to join the PS4 community,” said Sony Computer Entertainment’s Jim Ryan.

While the price drop is set to affect Sony’s 500GB model, don’t expect Sony’s 1TB editions of the console to necessarily fall in price with it, as the company hasn’t made any public statements about that thus far.

Variations like this Star Wars version probably won't snag the price drop.

Variations like this Star Wars version probably won’t snag the price drop.