A post on the DroidForums website said the device will be the first handset to ship with the Android 5.0 update and will tout a virtually bezel-less, edge-to-edge, 5-inch display.
The post adds that, although an announcement may be made at Google I/O 2013, the Motorola X Phone will not be classed as a Nexus device, per se, but as an entirely new sub-brand.
Instead, according to the rumour, a Nexus-like UI will sit on top of the Android OS. The post said: "Supposedly, Motorola has been working hard to create a UI that both compliments & enhances the Android experience, and is intended to be Nexus-like."
Interesting, the rumour claimed that the new UI will integrate a host of new features to rival Samsung's S-Beam, S-Voice and the like.
Just last month, Google CEO Larry Page claimed it was too soon for a Motorola Nexus phone although the launch of the X Phone at Google I/O would be the fruit to be bourne of the big Motorola buyout of 2011.
The company has been relatively quiet since the takeover, with no new, top-level handsets of note, but first dibs on Key Lime Pie would certainly put Moto back on the map
The post does advise that the rumour be taken with "a grain of salt," but it's certainly an interesting tidbit and seems entirely plausible to us. Roll on, Google IO.