Iomega is introducing for Xbox 360 and PlayStation 3 owners a new external portable hard drive designed to offer greater storage for these gaming consoles. It is known as the Iomega Media Xporter Drive and you’ll find it pricing around $120.

The Iomega Media Xporter Drive is a 160GB hard drive which connects to Sony and Microsoft’s gaming platforms via USB 2.0. It is a wallet sized device which has been tested for compatibility with these systems and serves as a place to store media files of various formats which can be enjoyed through the different game machines.

Iomega says one can carry up to 640,000 photos, over 2,900 hours of music or 240 hours of video on a drive. No external power is required as the drive draws its power from the USB host. It should be available now.

Iomega Media Xporter Drive