We heard about it earlier, and now it's official. The Nexus Q is a streaming media player that is designed to centralize your media streaming in the living room. The device connects to Google Music and allows both you and your friends to add media and rearrange playlists as they feed directly to your home theater. The device will launch for $300 on the Play Store.
The device includes support for optical audio out, as well as micro HDMI video and audio.