Update: We're following this and it seems as though the program will only work if your 360 is a Core/Arcade 360 unit. All Xbox 360 Pro serial numbers have come back saying that it is not eligible for the offers.

We'll keep you posted as we find out more details.

Original Story: We told you last week that Microsoft was looking at options to accommodate those who didn't have enough space on their 360s for the upcoming New Xbox Experience. Looks like they've found a solution. If you head over to Xbox.com, there is a service that will scan your serial number and console ID to ensure you don't have the 128 MB needed for the upgrade, then forward you to a page that will give you one of two different offers.

A refurbished 20 GB hard drive for $19.99 or a FREE 512 MB Memory Card.

I don't know about anyone else but a 20 GB hard drive for $19.99 is a pretty damn good deal for those new 360 Arcade owners.

Here's the 2 pages you'll need to check out to take advantage of these offers:

Memory Update Support Website
Memory Upgrade Service Website