Apologies for the cheesy headline, but this news was just calling out for it. Microsoft have announced Xbox Live Community Games, you make them, peers review them and delighted customers pay you (and Microsoft) for them.

"As a Premium member in the XNA Creators Club, you’ll be able to submit any complete Xbox 360 game you’ve created in XNA Game Studio to the Creators Club community at http://creators.xna.com, for peer review. Other Premium Creators will check to make sure your game is safe to play. If it is, you’ll set a price point – between 200 and 800 Points – that people will pay to download your game.

Once the game is reviewed and the price point set, you’re done. The game is listed on Xbox LIVE Marketplace, and you’ll get a check every quarter, for up to 70% of the game’s total revenue in your own currency. Depending on your game’s success, you may even have your game advertised on Xbox 360 and other Microsoft online properties."

Although it wont go live until "Holiday 08", whenever that is, there's nothing stopping you from working on your games now.