Xbox Live’s General Manager, Marc Whitten, confirmed that the new update would be released on Tuesday, November 17.  Among the new features, which has already been made available to Beta testers, include Facebook, Twitter, Last.FM and Zune support.

“We’re delivering some truly exciting social entertainment experiences to our members,” said Whitten. “Xbox LIVE’s differentiator has always been our community, and we’ve already seen a tremendous response to these features in our public preview. It’s the community that drives us forward and allows us to pioneer new ways of connecting people through the entertainment they love.”

The Dashboard update includes:

• Facebook – Update your status to share what movie, game or entertainment you’re enjoying, connect with friends and view their Facebook stream, status updates and photos on the big screen – all seamlessly integrated and custom-built for Xbox 360. You can even compare your Xbox LIVE and Facebook friends lists to see which of your friends are on LIVE.

• Zune – Zune video on Xbox LIVE offers a full fidelity experience with instant on HD in 1080p and 5.1 channel surround sound. No waiting for downloads or buffering, it’s there at the press of a button. You can also share the experience with up to seven friends through voice chat and Avatar integration on the TV screen – it puts a whole new spin on “movie night.”

• Twitter – Stay in the know by discovering, posting and replying to Tweets right on your Xbox 360. You can even view friend profiles, trends and conversations, or search to see who’s tweeting about your favorite game.

• Last.fm – Discover more music and explore endless personalized radio stations with Last.fm on Xbox 360. Skip, “ban” or “love” tracks to create your perfect mix—we’ve even built in “Gamer Stations” with game-related types of music selected specifically for the gaming community.

• Xbox LIVE will also be debuting “News and More,” a new section of the “Inside Xbox” channel, transforming Xbox LIVE into a full-fledged media portal. With a regularly-updated stream of content from MSNBC, The New Yorker and Dilbert, “News and More” brings the latest in current events, arts and entertainment right to your fingertips.

Xbox Live now has over 20 million active members, with 114% growth in the number of new members joining in 2009. Equally impressive, Live users have made more than one billion downloads.

For those who haven’t gotten the update yet, what new features are you most looking forward to?