Larry Hryb (aka Major Nelson) just announced on his twitter feed and blog that the price for an Xbox Live Gold subscription is going up. Here’s the little chart that gives the rundown but it comes down to this: starting on November 1st it will cost us 10 bucks more a year to play games online on the service.

If your subscription is running out you might want to look at their current sale– 40 bucks buys you a year, and of course the sale ends on November 1st.

They’ve offered no explanation for the price hike besides the fact that they haven’t raised the price since 2002, but this is sure to madden gamers anyway. Especially since the PS3 still does it for free, as long as you ignore that ridiculous Playstation Plus subscription they started that offers minute discounts on games and “free” games that you “own” as long as you’re a subscriber.

What do you guys think? Is this greedy of them? Are they justified in asking a little more?