Microsoft and Twitch have announced that a Twitch app is launching today on the Xbox 360. The app, which is exclusive to Xbox Live Gold members, allows users to view live streams of gameplay and special events.

The app does come with a few caveats. It won't allow users to stream footage from their console, which is something Sony is promoting on its upcoming PS4. And while Twitch says more than 800,000 people stream their gameplay using their software, Xbox 360 users will only be able to view content from the top 300 channels, as well as curated channels and other selected live events.

If you fire up the app after next week's Xbox reveal event, Microsoft's Major Nelson will be moderating a post-show broadcast. Tune in at noon Pacific on May 21 on the app or at