We don't have a price or an exact release date, but we do have a status update.

As reported by The Wall Street Journal , PlayStation boss Shuhei Yoshida confirmed that Sony's virtual reality initiative, Project Morpheus, is approximately 85 percent complete.

Interestingly, Yoshida added that many of the device's components are actually used in smartphones, so that should help keep the retail cost down. He has also said in the past that Sony will not release Project Morpheus until there's sufficient software in place. This is a common refrain from Sony as of late, as they strove to have plenty of software for the PlayStation Vita and PlayStation 4 launches.

You psyched for Sony's VR?