A listing on the recruitment page for developer Day 1 Studios has revealed that the company is currently hiring staff to work on what'd described as "a properly funded and scheduled Xbox 2 project."
The company previously developed first-party Xbox game MechAssault, one of the first Xbox Live enabled titles, and is believed to be one of the studios which has received early Xbox 2 development hardware.
Microsoft plans to make the first official statements about Xbox 2 at GDC later this month, with a keynote speech from chief Xbox officer Robbie Bach on March 24th likely to constitute the official announcement of the console.
Interestingly, the language surrounding the GDC keynote has focused mostly on next-generation software - which ties in with comments from Microsoft sources who claim that the hardware itself will not be unveiled at the show.
However, it tends to suggest that Microsoft may take the unusual step of unveiling its new console by discussing an early portfolio of games - with a possibility that titles from close Microsoft partners such as Day 1 Studios in the USA or Climax and Rare in the UK could be shown in the form of prototypes or - more likely - videos.
If Microsoft does unveil Xbox 2 by talking about software rather than hardware, it'll be an extremely unconventional way of introducing its next console - but one which actually falls neatly in line with the oft-repeated mantra of senior Xbox executives, "it's all about the games."