Today at the Game Developers Conference, Microsoft announced plans to increase the size limit for Xbox Live Arcade games, and subsequently unveiled a new 512MB memory unit for the Xbox 360. The official limit for Xbox Live Arcade titles has now been boosted from 50 MB to 150 MB, thusly providing developers much more freedom and flexibility in creating Live Arcade projects with more advanced features and expanded content. To help store these larger game files, Microsoft will be releasing a 512MB memory unit for the Xbox 360 on April 3rd with an estimated retail price of $49.99. The unit will also come pre-loaded with Geometry Wars: Retro Evolved, and following its release the original 64MB memory unit will see a price drop from $39.99 to $29.99. Great news all around if you’re an XBLA fan, though at this point I think most 360 owners would like to see a larger hard drive released over a memory card.