Microsoft is nearing the launch of their latest version of Xbox 360 Dashboard.

The company is likely to add support for PayPal as a new option for payments for credits.

Industry sources say that Microsoft would start delivering this update from May 19.

All the gamers with their Xbox 360 connected to internet should get this update by the end of the month.

Microsoft is also expected to release an optional pack named Avatar Kinect later this month as well.

This update would also add support for the new storage format that would allow gaming companies to package more data on the same DVD used by Xbox 360.