Could Microsoft be unveiling a new Xbox Live app for smartphones and tablets this E3?

Microsoft will apparently be revealing this new “companion app” for Xbox Live at an exclusive “closed doors” announcement at E3. The official name of the app is supposedly “Xbox Smart Glass”

Some of the functions have already been revealed to us early. It is expected to be able to remotely access your Xbox 360 and access applications already on your Xbox, such as Netflix or YouTube. The ability to stream media from your phone/tablet to the console was mentioned, but not if it was possible vice-versa.

The app is set to launch on a variety of OS’, Android, iOS and Windows Phone.

This could be the next big thing for Microsoft, who have deigned to stay out of the tablet market for some time now. It could also be a step towards releasing a more integrated network for Windows 8, that can incorporates your PC, console and smartphone/tablet wirelessly, much like Windows 7 has laid the foundation for.

It seems a bit late in the lifespan of a console to release an app like this, so could this be a sign that the Xbox 360 is going to be around a bit longer than we imagined?