Rumor: Microsoft, Barnes & Noble to announce tablet with Xbox Live streaming today [Update: B&N says nope]

Rumor and speculation are rampant over what Microsoft's mystery press conference later today is all about, with TechCrunch hanging its hat on a tablet collaboration with Barnes & Noble.

The device would be a tablet, e-reader or mishmash, and be the first device outside of Microsoft to use Xbox Live video streaming. You know... Xbox Live video streaming? That thing you might consider using when Netflix, Hulu, Amazon, HBO GO, Crackle, YouTube and live television aren't available.

Anyway, all will be revealed today at 6:30 Eastern, 3:30 Pacific. Head on over to Engadget this evening for the liveblog.

Update: Or not, according to Barnes & Noble.