Download Xbox games via Xbox Live?

The Official Xbox Magazine is reporting that the next Xbox 360 dashboard update will allow owners to download original Xbox games.

Titles such as Halo, Fable, Crash Bandicoot, and Burnout 3 will be available via Xbox Live Marketplace for approximately 1,200 Microsoft points.

Although Microsoft has not officially confirmed the news, according to the magazine the company plans to make more of its original Xbox back catalog of titles available in the future.

The magazine also reports that a video marketplace service, already available in the US, will soon be launched in Europe. The service permits Xbox 360 owners to download movies to their console on a temporary basis, allowing them 14 days in which to watch the film before it is deleted.

The next Xbox 360 dashboard update is currently scheduled for December 4.

UPDATE: Microsoft has confirmed that 360 owners will be able to download original Xbox games for 1,200 Microsoft points.

In a press release celebrating Xbox Live's 5th anniversary, the company mentioned Halo, Psychonauts, Crimson Skies and Fable as titles that would be made available.