Speaking to Videogamer.com, McGill reckons that Microsoft would be practically giving the console away if it were to sell it any cheaper.
"I think a lot of people have been waiting for it to become even more affordable and they're now seeing that benefit and buying it in their droves and we can now hopefully continue it through Christmas and beyond.
McGill continued "We're a great price now. I'm not dropping the price for many many years in the future I would suspect."
The Xbox 360 currently costs £129.99 for the Arcade model, £169.99 for the 60GB Premium £229.99 for the Elite model. An absolute bargain if you ask us.
In other Xbox 360 news, Microsoft's Gamerscore Blog has revealed that when the New Xbox Experience launches on November 19th, four Xbox live arcade games will be updated to allow users to incorporate their custom-made avatars. Uno, Bomberman Live, Hardwood Hearts and Hardwood Spades, in addition to the new title, Scene It? Box Office Smash, will all feature avatar support.
The avatar system looks pretty cool, if you're into dressing up animations that is...
