Virgin Media has announced that a brand-new TiVo box is on its way - with a lower cost 500GB set top box arriving on the service in mid-May.

The current TiVo offering is a 1TB box, available only to customers on the XL TV package, but the 500GB box will be available to ALL Virgin Media customers and for a shade less than £50.

"Whilst the 1TB box is available exclusively to XL TV customers, the great news is that the 500GB box will be available to Virgin Media TV customers for just £49.95 and can be used with our L or M+ TV packs too, making it even easier for more telly fans to join the TV revolution that is Virgin Media TV powered by TiVo," a Virgin Media spokesperson told TechRadar.

1TB £150

Virgin Media has also announced that the 1TB box will be dropped to £149.95 to existing customers who pre-ordered or £199.95 for new customers with installation for no additional cost.

You might be wondering why a box that is apparently the same apart from double the storage costs three times as much - we certainly are, especially considering the price of HDDs.

The 500GB box will be available in around six weeks' time, and brings all the features of the 1TB box – including the three tuners and the built in modem.

TechRadar's Virgin Media TiVo review gave the 1TB box a four-star rating, praising its power and suggesting that it was a firmware upgrade and a polish away from being the best set-top box in the UK.