Microsoft's will host the Gaming and Giving for Good (G3) Xbox LIVE charity event in October to raise funds for Children's Miracle Network Hospitals.
Microsoft will supply participants with free Xbox Live gold memberships, who will ask friends and family to donate for evey hour they play online on October 1.
"We are inspired by the support from the gaming community and how it has rallied around our Extra Life programs to support Children's Miracle Network Hospitals," said John Lauck, CEO of the Children's Miracle Network.
"We're honored and thrilled that Xbox is helping the Extra Life fundraising effort with its G3 event on Xbox LIVE."
GameStop and 2K are also supporting the charity, and have already raised $70,000. Hulu, EA, Capcom Entertainment, Square Enix are also contributing.
"GameStop associates are passionate about giving back to the communities in which we operate," said Paul Raines, GameStop CEO.
"We look forward to raising awareness and money for this tremendous cause with the help of gamers nationwide."
More information about the event can be found at the official site.