Big news being reported by Gamasutra today – according to the site, Microsoft is about to start allowing XBOX 1 games to be sold on Live Arcade! Priced at 1200 points ($15 USD, $14 CAD), the games will become available on December 4. The first titles are going to be Halo, Psychonauts (for the millions who missed this highly acclaimed game that failed the first time around), Crimson Skies, and Fable.
Also, to celebrate the birth of XBLA, Microsoft is giving all original members 500 points free, to use however they wish. This will take place on Thursday.