Xbox 2 Unveiling at CES 2005?

The guys at Codejunkies.com are reporting that the Xbox 2, which Microsoft currently calls the Xenon, may be unveiled during Bill Gates' keynote address at the upcoming Consumer Electronic Show in Las Vegas. A snippet from their newsbit:
...high-level talk amongst industry insiders, including analysts and publishers, suggests that there's more to this particular rumour than idle gossip. Microsoft has so far declined to comment, taking the line that it does not respond to "rumour and speculation", but has not issued a denial.