If you have the new Xbox One on your holiday list, wait until this weekend to buy. Microsoft announced today that it is cutting the game console's retail price by $50 effective Nov. 2, reports GameSpot.

The limited-time promotional offer means you can buy the Kinect-free system for $350 or the standard Kinect bundle for $450.

The deal makes Microsoft's console less expensive than the PlayStation 4, which has a retail price of $400.

Xbox One Discounted Special Edition Bundles

The following three special edition bundles are included in the price cut:

1. Assassin's Creed Unity: Assassin's Creed junkies will love the Day Zero Edition, which features two custom weapons, the AK-12G Assault Rifle and CROSSBOW-B2. It also includes the EM1 Quantum directed energy weapon and the Advanced Arsenal Bullet Brass exoskeleton.

2. Call of Duty: Advanced Warfare: The Limited Edition Call of Duty: Advanced Warfare bundle includes a digital copy of the Day Zero Edition, custom console and controller, and limited edition exoskeleton as well as a 1TB hard drive.

3. Sunset Overdrive. Welcome to an Open World with No Rules! Parkour through the city. Grind power lines and rails to outwit and destroy your rivals at every turn. The bundle, which used to be available to Microsoft employees only, comes with a white console and wireless controller.

Xbox One Price Cut Breakdown

Here's a breakdown of the deal, according to GameSpot:

  •  Xbox One With Kinect -- $450
  • Kinect-free Xbox One -- $350
  •  Xbox One Assassin's Creed Bundle With Kinect (comes with copies of Unity, Black Flag, and Dance Central Spotlight) -- $450
  • Xbox One Assassin's Creed Bundle Without Kinect (comes with copies of Unity and Assassin's Creed IV: Black Flag) -- $350
  • Xbox One Sunset Overdrive Bundle (comes with white console, white controller and game) --$350

Where to Find the Xbox One Discount Deal

The Xbox One discount deal is available at most U.S. major retailers, including Best Buy, Amazon, GameStop, Target, Toys 'R Us, Wal-Mart and Microsoft Stores.

The promotion starts Nov. 2 and is valid through Jan. 3, 2015.