Since being named “Best of Show” at CES and getting a sneak peek at a 16 second commercial today; Verizon Wireless and Motorola have announced an official date of February 24th for the launch of the Motorola Xoom along with a price tag of $599.99 with a two-year agreement or you can buy it off contract for $799.99.

In the announcement they pointed out that you will need a data plan and that there will be an upgrade available in the second quarter of the year for Verizon’s 4G LTE network.