Microsoft today announced that it ‘s raising its $49.99 Xbox Live Gold subscription account by $10. All of the features of an Xbox Live Gold account, primarily multiplayer but also integration with Facebook, Twitter, and Netflix movie streaming, will now cost $59.99.

This price change, which also affects Canada, Mexico and the U.K. will be effective November 1, 2010. It is possible to lock in the current subscription rate now by renewing, and current Xbox Live Gold members are encouraged to do so.

While there will likely be a backlash from gamers, special deals are expected to smooth over the initial transition period.

Source: Major Nelson