News of a new upgraded version of PlayStation 4 has been giving console gamers sleepless nights, following a report from Kotaku earlier this month. Shortly after that, Eurogamer stepped in to confirm the existence of a new PlayStation 4 model as well that sports beefier hardware. Now, another source has authenticated the same rumor.

Wall Street Journal has published a report citing their own sources who have revealed that “PlayStation 4.5” (or whatever Sony is calling it) is legitimate and Sony Corp. (NYSE:SNE) is aiming to announce the console sometime before the launch of PlayStation VR.

As reported before, this version of PlayStation 4 will be an upgrade over the existing hardware. By introducing a more powerful hardware under the hood, this new console will be able to play games in a higher visual quality than its entry-level brother. If the report holds true, we should hear about PlayStation 4.5 at E3 2016. Since that is the biggest event of the year and investors keep an eye on the company’s portfolio, it is a good bet to assume Sony’s press briefing will hold the very first announcement.

Virtual reality is an important segment for Sony. The PlayStation VR, which is scheduled to launch in October, is a crucial part of Sony’s strategy for the future. Since virtual reality is a very demanding tech and how PlayStation 4 currently struggles to maintain 30 frames-per-second in some games, it feels as if the new console is a reaction to the headset’s launch.

The report states that PlayStation 4.5 will be able to handle “ultra-high-definition resolution graphics”, but we believe otherwise. There is simply not a cost effective way to introduce a 4K capable hardware inside a system that is supposed to target the $400 – $500 bracket. Whatever the case, Sony indeed has something to announce and we cannot wait to see what it is.