Microsoft has announced that Xbox Live will be available in your pocket for the first time this holiday on the Windows Phone 7 Series. The new OS will be available on a wide range of devices from popular vendors such as Verizon, AT&T, T-Mobile, Samsung, and HTC. Unveiled by Microsoft CEO Steve Ballmer at Mobile World Congress 2010, the Windows Phone 7 Series games hub featuring Xbox Live will provide various Xbox LIVE gaming and community features found on the Xbox 360 today, including the ability to:

• Collect Achievements and build your Gamerscore
• View Xbox LIVE leaderboards
• See your Xbox LIVE Avatar
• Access Spotlight feeds, including the latest tips and tricks, game news, updates and more
• Add Xbox LIVE friends to your friends list while out on the go
• Turn-based (asynchronous) multiplayer gaming

“Windows Phone 7 Series was built from the ground up with entertainment in mind, and its unique design allowed us to bring some of the best gaming and community features of Xbox Live to the Windows mobile platform,” said Ron Pessner, general manager of Xbox LIVE Mobile. “It has always been our vision to expand the Xbox Live service to connect people to their games, entertainment and friends wherever they go, and the launch of Windows Phone 7 Series is an important step toward that goal.”

So, what do you all think??? Cool? Kinda cool? Lame? Let us know in the comments below.

We’ll keep you posted on more details as they emerge.