The annual Spring update for the Xbox 360 is coming around the corner and it looks like the first details of the update have been revealed thanks to Joystiq obtaining some valuable information and screenshots.

According to the update, after the download and install is complete; gamers will be able to download Xbox Live Arcade games, Games on Demand, DLC, and even Title Updates to a separate storage device on their console. So can we expect a drop in price of the Memory Units in the future? You can never tell at this point since it's a little early to confirm any details.

Check out more on the report over at Joystiq as well as the image gallery of the process for the USB Storage.